Three different regions made their movements this month to reduce dependence on the two global companies that process most of the world’s card payments. On the surface, they may look unrelated, but together, a pattern emerges where governments and central banks build various types of alternative payment rails instead of relying on Visa and Mastercard.
Europe: digital euro & payment “roaming”
Visa and Mastercard process 61% of euro-area card payments and nearly all cross-border card transactions, according to ECB data cited by Euronews. That dependence has been an issue for a while now.
Since the beginning of 2026, Europe increasingly debates the problems that may arise if the region doesn’t achieve a so-called “payment sovereignty”. Though Mastercard argued that the global card networks should be viewed as an integral part of the continent’s financial infrastructure rather than an external provider, Philippe Laulanie, director general of France’s payment network CB (short for Cartes Bancaires), noted that “Current tensions with the U.S. under Donald Trump have underscored the idea that some services could be cut off or subject to conditions,” reminding that local alternatives should be on top of the payment sovereignty industry agenda. This is precisely what EU officials are now trying to address on several fronts.
The digital euro, a central bank digital currency (CBDC) for the eurozone, has entered its final negotiation phase between the European Parliament and the Council. Approval is expected by the end of the year, with a launch targeted around 2029. If, in theory, blockchain-based payments dominate the EU payment landscape, using card networks, whether local or international, wouldn’t be a necessity anymore.
Alongside that public project, private payment networks in Europe have also starting to move faster. The European Payments Alliance (EuroPA) and the European Payments Initiative (EPI) have signed an interoperability agreement linking their national mobile payment apps such as Portugal’s MB WAY, Spain’s Bizum, Italy’s Bancomat, the Nordic region’s Vipps MobilePay, Poland’s Blik, Greece’s IRIS and EPI’s own Wero. Combined, the network could eventually reach around 380 million users spread across 15 European countries, according to Euronews calculations. Officials describe the goal as “payment roaming.” Here’s what it means in practice: a French Wero user could pay, for example, a Spanish contact through Bizum without ever switching apps. With such an interoperability, there’s not much necessity for separate global payments rails per se.
The UK is pursuing a parallel goal but through different means. The UK Payments Initiative, which went live in June, aims to give British merchants and banks a domestic alternative to card-network fees and rules. It operates on the premises of open banking & open finance and addresses Variable Recurring Payments (cVRP) in the UK. The next generation of these types of payments is happening account-to-account, which also reduces reliance on international card schemes.
Brazil: the payment model everyone is watching
Brazil’s Pix system is the clearest real-world example of what these European projects are aiming for in the realm of payment sovereignty. Pix already dominates domestic payments, and Brazil’s central bank has signed information-sharing agreements covering Pix with 65 foreign counterparts, including Germany, Canada, South Africa and Turkey, Reuters reported. A recent central bank report described also active discussions on bilateral links and participation in multilateral payment hubs, while back in 2023 such connections were only deemed as distantly possible. The push comes even as Pix faces scrutiny from Washington, which has cited the system as a reason to justify trade tariff decisions affecting Brazil. US officials suggested that Brazil’s practices “may undermine the competitiveness of U.S. companies engaged in digital trade and electronic payment services.”
BRICS: an early-stage conversation with the same goal
Reserve Bank of India Governor Sanjay Malhotra confirmed on August 11 that BRICS members, i.e. Brazil, Russia, India, China, South Africa and other countries, are discussing ways to link their national fast-payment systems and central bank digital currencies to cut cross-border costs. Malhotra was careful to note the talks remain in early stages: “various options are on the table,” he said, without committing to a specific approach. India, which hosts the 2026 BRICS summit, has proposed adding CBDC interconnection formally to that meeting’s agenda.
In BRICS alliance, the situation is much different from Europe though. One of its members is actually Russia that is effectively excluded from the international Visa and Mastercard networks, so the use of Visa/Mastercard branded products for locals is limited mostly to domestic use. In China, as another BRICS member, Visa and Mastercard do operate, but domestic payments there have historically been dominated by UnionPay and are subject to China’s domestic clearing and regulatory framework. Unlike Europe, in these countries, domestic transactions are mostly under local control, so their US-based networks dependence remains on-topic just on cross-border level.
Why the three initiatives are connected
None of these efforts are coordinated or explicitly linked with each other. But they share the same underlying motive: reducing reliance on card networks headquartered in the United States. In wider context, the countries from different regions might also seek to avoid depending too much on the dollar-based clearing systems that often sit behind cross-border transfers.
