The European Payments Initiative (EPI), previously known as the Pan-European Payments System Initiative (PEPSI),[1] 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.[2]
It is supported by the European Commission, and currently comprises fourteen major European banks and two acquirers (including all the major French banks, Deutsche Bank in Germany.)[3]
^Keohane, David (9 June 2021). "Why Europe's banks want to end US dominance in payments". www.ft.com. Retrieved 23 June 2021. It got off to a rocky start last summer when US soft drinks group PepsiCo objected to its proposed name: The Pan-European Payment System Initiative, or, PEPSI.
^Arnold, Martin (26 November 2019). "ECB explores development of a digital currency". Financial Times. Retrieved 29 June 2020.
^Benhamou, Éric (29 June 2020). "Paiements : vingt banques européennes lancent leur propre système". Les Echos (in French). Retrieved 29 June 2020.
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Global Information
Single Euro Payments Area