EPI Definition.

European Payments Initiative: an alliance of European banks launched in 2020 to build a pan-European payment solution independent of Visa and Mastercard. After dropping its card component, EPI acquired iDEAL and Payconiq in 2023 and launched the Wero wallet in 2024, built on instant account-to-account transfers. Notable shareholders: BNP Paribas, Crédit Agricole, BPCE, Société Générale, Deutsche Bank, ING, and Worldline.

See also

→ Wero→ SCT Inst

Where this term appears

GuideThe four-party modelGuidePayment schemesGuidePayments in GermanyGuidePayments in AustriaGuidePayments in the Netherlands and BelgiumGuidePayments in Germany, Austria, and SwitzerlandGuidePayments in FranceGuidePayments in Spain and PortugalGuidePayments in ItalyGuideLuxembourg and Europe’s licensing hubsGuidePayments in Norway and DenmarkGuidePayments in the UK

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