Visa and Mastercard will finally face some competition. Europe is building its own payment system that will launch in late 2026, when about 130 million people in 13 countries will be able to use it. It integrates the Wero app with national services like Bizum in Spain, Bancomat in Italy, MB Way in Portugal, and Vipps and MobilePay in the Nordic countries. The system transfers money instantly from one bank account to another using Europe’s fast payment network, so people can keep using their usual apps while a central link simplifies cross-border payments. It starts with person-to-person payments in late 2026 and adds online and in-store payments in 2027. They want to cut costs and keep money and data inside Europe, and rely less on foreign card companies like Visa and Mastercard. This will not replace Visa or Mastercard completely, as those cards will remain useful for travel and some shops, but it is a good alternative for Europeans to the usual payment processors.