Will there ever be pan-European rules and rails to pay?

This event took place on Tuesday, June 7, 2022 at 10:40 AM UTC.

The Plantarium Stage, RAI Visa and Mastercard can turn off the grid in 24 hours (as seen in Russia). That’s part of the reason Europe is now pushing for a sovereign card system. Launched in 2020, the European Payments Initiative (EPI) is an ambitious project that aims to create a pan-European payments system and interchange network. If it succeeds, the initiative will be a home-grown, major competitor to payments behemoths Visa and Mastercard. Yet questions about EPI are plentiful. Can it really succeed in creating a continent-wide system, especially considering other similar efforts, notably the Monnet Project, failed? Is there a business need for this? And what does EPI mean for Europe's swathe of existing, regional payments schemes, wallets and card newcomers?