Cross-border European mobile payment network in the works

European Mobile Payment Initiative - Euros - mobile phone

Seven European payments operators are partnering to create a cross-boarder mobile payments network. The European Mobile Payment System Association initiative has been announced by seven European payments operators that own and operate mobile payments services in Europe. These operators, many of which are owned by banks, are in the process of building a pan-European network that focuses on cross-border mobile-based payment transactions. The move comes as banks and traditional financial services companies battle fintechs and global tech giants. The seven businesses and payments networks involved in the initiative include: •…

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Unified QR code payments system could become serious competition for major credit cards

Unified QR code payments - figures building QR code

A new mobile payments initiative could become the leading digital payments method in Europe. Several mobile wallet companies across Europe have teamed up with Alipay to create a unified QR code payments system. These companies include Bluecode, momo pockets, ePassi, Pivo, Pagaqui, and Vipps. The adoption of this code will allow payment interoperability for travelers in Europe and from China. The idea behind the unified QR Code payments initiative is to allow users of the six European digital wallets to make QR code payments with their applications at local merchants…

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