Goodbye Visa and Mastercard: 130M Europeans switching to sovereign payment

European payment systems are uniting to create a sovereign alternative to Visa and Mastercard, with five major payment networks (Wero, Bizum, Bancomat, MB Way, and Vipps MobilePay) connecting through a central hub launching in 2026. The initiative will enable 130 million users across 13 European countries to make instant cross-border payments as easily as domestic transfers, with person-to-person transfers starting in 2026 and online/in-store payments following in 2027. This European payment alliance aims to reduce continental dependence on non-European payment giants while eventually covering 72% of the EU and Norway's population.