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White Paper Highlights Strategic Risks and Calls for Coordinated EU Response
The European Card Payment Association (EPCA) has issued a renewed call for action to strengthen payment sovereignty across the European Union. With more than 263 million European Card Scheme (ECS) cards in use and over 31.5 billion transactions recorded in 2024 alone, the EPCA argues that the region's payments infrastructure remains heavily reliant on non-European entities, leaving it vulnerable to global economic and political disruptions.
In its latest white paper, the association outlined concerns about the growing dominance of U.S.-based networks and platforms, including Visa, Mastercard, Apple, Google, and PayPal. These players currently process a significant majority of euro area card payments—an estimated 65%—raising strategic questions about Europe’s financial autonomy.
Strategic Autonomy at the Forefront
The paper aligns closely with the European Commission’s ongoing efforts to promote strategic autonomy in critical areas, including financial infrastructure. Recent geopolitical events, such as rising protectionist policies in the United States and the prolonged instability in Eastern Europe, have brought new urgency to the debate over who controls the digital rails of Europe’s economy.
EPCA’s position is that payment systems are not just technical utilities but also key instruments of economic sovereignty. It is calling on regulators and policymakers to ensure that, at all times, at least one EU-based card payment method remains available to consumers and businesses.
A Multi-Faceted Approach to European Resilience
To achieve this, the association advocates for the development of a robust payments policy framework. This would include regulatory measures aimed at ensuring fair competition between ECSs and global providers, the expansion of open European technical standards such as CPACE, and improved cooperation between domestic systems across borders.
At the operational level, EPCA supports infrastructure sharing and the creation of agreements that allow seamless acceptance of EU-based cards across member states. These measures are seen as vital to maintaining a unified and independent financial ecosystem within the single market.
Institutional Backing Grows Across Europe
Support for this approach is growing. The European Payments Initiative, backed by leading banks, has called for tighter coordination between domestic digital payment networks. Its focus is on building shared merchant acceptance infrastructure that functions across borders without undermining the role of local providers.
At the same time, the European Central Bank has reinforced the message. In April, ECB President Christine Lagarde underlined the importance of moving toward greater independence from international payment platforms, describing the initiative as essential for long-term resilience.
Private Sector Joins the Push
The private sector is also responding. Giesecke & Devrient recently unveiled plans for a multi-application card that can connect users to domestic European networks for both online and in-store payments. The offering is designed to support interoperability with other systems—including Visa and Mastercard—but only when required. The card will be compatible with more than 300 million existing ECS-issued cards and is part of the STELLA initiative (Sovereign Technical European initiative Leveraging Local Assets).
This development signals growing recognition among European companies that relying too heavily on global networks could lead to long-term strategic risks.
Guarding Europe's Digital Future
The EPCA’s message is clear: payment sovereignty must be treated as a core pillar of Europe’s digital future. By promoting local solutions, open standards, and cooperative policy, Europe can ensure that its financial infrastructure reflects its economic priorities and political values.
The association’s call for coordinated action aims to prevent dependence on external platforms from limiting Europe’s financial freedom. The stakes are high. As political conditions shift rapidly around the globe, so too does the need for Europe to safeguard its ability to manage the flow of money within its borders.
With over 263 million ECS cards already in use and billions of transactions managed annually, the foundation is in place. What remains is for institutions, industry, and regulators to act collectively and decisively to reinforce the payments systems that underpin the European economy.
