While Europe's traditional banks are still negotiating the creation of a cross-border instant payment network—similar to Spain’s Bizum—Revolut is already preparing to launch its own pan-European solution by the end of 2025.
The neobank, which already enables free instant transfers between Revolut users, has been integrating national payment systems like Bizum (Spain), iDeal (Netherlands), and Blik (Poland) into its app. Upcoming integrations include Multibanco (Portugal) and Wero (France & Germany). The goal is to allow users to send money seamlessly across Europe using different national systems—without needing an IBAN.
Traditional banks, meanwhile, plan to launch a unified solution by 2026. The European Payments Initiative (EPI) and EuroPA—two major banking alliances—have recently agreed to interconnect their platforms, with EPI’s Wero now live in France and Germany. Spanish banks, which had left EPI to focus on Bizum, are now also working on interconnectivity with Portugal and Italy.
While banks aim to assert strategic autonomy and reduce reliance on Visa and Mastercard, Revolut maintains ties with both and says its move is entirely driven by user demand.
If successful, Revolut could beat both the banks and the European Central Bank’s digital euro initiative to the punch, offering seamless, pan-European instant payments before anyone else.
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