📝 EU🇪🇺: “Key Players in the EU Payments Market — 2026” (Part 2)

📝 EU🇪🇺: “Key Players in the EU Payments Market — 2026” (Part 2)

We continue our review of the report by the European Payment Systems Association (PA EU), prepared in collaboration with Deloitte and The Paypers (part 1). Here is a brief overview of local trends and key players across different European regions and countries.

📌 Benelux

📎 Belgium🇧🇪: the payments market is rapidly moving toward digitalization, with instant payments becoming the new standard. Open Banking, payer verification and AI-based fraud prevention solutions are also gaining ground. 🗝 Key players: BNP Paribas Fortis, KBC, Belfius, ING Belgium, Worldline, Axepta, Isabel, Revolut and N26.

📎 Netherlands🇳🇱: one of the most digitalized payments markets in the EU. Cash accounts for only around 7% of POS payment volume. iDEAL/Wero is the leading online payment method, accounting for 64% of e-commerce value. Digital wallets and A2A payments are also growing rapidly. 🗝 Key players: iDEAL, Wero and Adyen.

📎 Luxembourg🇱🇺: an international fintech hub and the European headquarters of several global players. Key trends include the growth of digital wallets, BNPL and crypto infrastructure. 🗝 Key players: Spuerkeess, BGL BNP Paribas, BIL, Worldline, Mangopay, PayPal, Coinbase, Ripple, Banking Circle and LUXHUB.

📌 Western Europe

📎 France🇫🇷: card payments remain dominant. Cartes Bancaires accounts for 65% of the national market, while 95% of cards are co-branded with Visa or Mastercard. Digital wallets, A2A payments and BNPL are also gaining popularity. 🗝 Key players: banks — BNP Paribas, Crédit Agricole, Société Générale, BPCE, Crédit Mutuel and La Banque Postale; fintechs — Nickel, Revolut, Qonto and Sumeria.

📎 Germany🇩🇪: national Girocard debit cards and cash remain firmly established, but digital wallets, BNPL and A2A payments are growing rapidly, while Open Banking continues to expand. 🗝 Key players: Girocard, Visa, Mastercard and Wero.

📎 Ireland🇮🇪: digital payments dominate the market. Debit cards and digital wallets are widely used, while cash continues to lose popularity. The next stage of development is expected to focus on A2A payments, instant payments and Open Banking. 🗝 Key players: Revolut and international PSPs.

📌 Southern Europe

📎 Italy🇮🇹: the country has a strong national Bancomat infrastructure and well-established banking solutions. Instant payments are expanding, while the market is moving toward greater European interoperability. Bancomat is developing a connection with Wero/EuroPA. 🗝 Key players: Bancomat and Nexi.

📎 Spain🇪🇸: Bizum is the main local A2A payment solution. Instant and mobile payments, as well as digital wallets, are gaining ground. National payment systems are also becoming more integrated with European solutions through EPI. 🗝 Key players: Bizum and Redsys.

📎 Portugal🇵🇹: traditional banks and payment infrastructure providers remain dominant. The national Multibanco/SIBS model plays a central role, while fintechs have a complementary presence. Going forward, the national model is expected to expand to the pan-European level through EuroPA. 🗝 Key players: SIBS, Multibanco and MB WAY.

📌 Southeastern Europe

📎 Greece🇬🇷: the country is undergoing a rapid transition from cash to digital payments. Cards dominate e-commerce, while digital wallets and mobile payments continue to gain importance. IRIS instant payments are already widely used, while neobanks are also gaining ground. 🗝 Key players: IRIS, banking PSPs, Snappi and Natech.

📎 Cyprus🇨🇾: payment digitalization is advancing rapidly, although 48% of POS payments are still made in cash. Online, cards dominate, accounting for 61% of payments, one of the highest rates in the EU. Digital and mobile wallets are also growing. 🗝 Key players: banks, Visa and Mastercard.

📎 Malta🇲🇹: mobile payments and e-wallets are increasingly widespread, although cash remains relevant. The market is strongly oriented toward international fintechs and cross-border payments. 🗝 Key players: MFSA, fintechs and PSPs.

(⬇️See continuation below⬇️)

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