The European Payments Initiative (EPI) is a European Central Bank-backed payment-integration initiative aiming to create a pan-European payment system and interbank network to rival Mastercard and Visa, and eventually replace national European payment schemes such as France’s Carte Bancaire and Germany’s Girocard.
It is supported by the European Commission, and currently comprises twenty major European banks (including all the major French banks, Deutsche Bank and Commerzbank in Germany, Santander Bank in Spain and Intesa Sanpaolo and UniCredit in Italy).
The European Payments Initiative will revolutionise the European payments landscape. The project aims to facilitate payments in Europe by creating a pan-European interbank system. EPI’s goal is to offer a digital payment solution that can be used anywhere in Europe and thus reshape the current fragmented landscape.
Revolut is the frontrunner of the technological and innovative banking technology. Therefore, it’s not only logical but necessary that Revolut joins the The European Payments Initiative (EPI) initiative.
EPI now consist of: Banco Santander, Banque Fédérative du Crédit Mutuel, BNP Paribas, Crédit Agricole, Deutsche Bank, Deutscher Sparkassen- und Giroverband, Groupe BPCE, ING Bank, KBC Bank, La Banque Postale, Nets, Société Générale and Worldline.
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