Europe is serious about building its own payment infrastructure. The European Payments Network (ENP) initiative, launched back in 2023, has gained new momentum: major national systems have joined the project — Spain's Bizum, Italy's Bancomat, Germany's digital wallet Wero, Portugal's SIBS-MB WAY, and Scandinavia's Vipps MobilePay. The goal is ambitious: reduce dependence on Visa and Mastercard and champion "European sovereignty" in payments.
Why Europe wants its own payment network
Today, most transactions within the EU go through American payment systems. This is not just about fees but also politics: control over data, sanctions risks, and dependence on external players. ENP is meant to become a single European alternative — with its own rules and settlements.
For now, it's not about replacing Visa and Mastercard tomorrow, but about creating a parallel infrastructure. However, for cardholders, it's a signal: new payment methods may emerge, and familiar cards may change their terms.
What it means for those paying for foreign services
If you use virtual cards to pay for subscriptions, purchases in foreign stores, or crypto operations, keep an eye on ENP news. Possible scenarios:
- New fees and tariffs. Once European banks have an alternative, they may revise the cost of transactions for Visa and Mastercard cards.
- Changes in payment routing. Some transactions within the EU may go through ENP, affecting settlement speed and currency conversion.
- Additional checks. During the network's early stages, glitches and temporary restrictions are possible — especially when paying from outside the EU.
For now, most virtual cards, including VirtCardPay solutions, operate via Visa and Mastercard, and this mechanism won't change in the near future.
How to protect your payments right now
While European authorities build a new network, scammers are not idle. Here are a few practical steps to keep your money and data safe:
- Enable 2FA everywhere possible. Two-factor authentication is a basic level of protection for email, crypto exchanges, and payment services.
- Don't click links in "card blocked" emails. Phishing campaigns often masquerade as notifications from banks and payment systems. Check the sender's address and log in only through the official app or website.
- Use virtual cards for one-time payments. This limits risk: even if credentials leak, the loss will be minimal.
- Regularly review subscriptions. Fraudulent charges often masquerade as small recurring payments. Check your transaction history at least once a month.
What's next
ENP is a long-term project, and its impact on the market will be gradual. But the very emergence of a strong European alternative could force Visa and Mastercard to reconsider fees and terms for European users. For virtual cardholders, this means more choice and possibly better terms in the future.
Stay tuned: as soon as specific ENP tariffs and rules appear, we'll cover them in a separate article.
FAQ
Will my virtual cards stop working because of ENP?
No. For the next few years, Visa and Mastercard will remain the primary payment systems. ENP is an additional infrastructure that will develop in parallel.
Should I expect lower fees?
Competition may lead to revised tariffs, but not immediately. For now, rely on your issuer's current terms.
How can I secure payments for foreign services?
Use virtual cards with limited spending, enable 2FA, and don't keep large sums on the account linked to subscriptions.
Names of services, games, and franchises belong to their respective rights holders and are mentioned only to describe the payment scenario; VirtCardPay is not affiliated with them.
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