iDeal and Payconiq to be acquired by the European Payments Initiative

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The European Payments Initiative, a bank-backed venture created to compete with Mastercard and Visa in Europe, is acquiring Dutch payment scheme iDeal as well as Payconiq, a mobile payments app supported by a number of Belgian and Dutch banks.

The EPI was founded by 31 major Eurozone banks and acquirers Worldline and Nets with the goal of creating a unified pan-European payment system, including a card for consumers and merchants across Europe, a digital wallet, and peer-to-peer payments.

The scheme, which was backed by the European Central Bank, was set to go live last year, but funding became an issue for members, prompting a move to seek outside funding.

Read More: European Payments Initiative to acquire iDeal and Payconiq

TalkFintech Bureau
TalkFintech Bureauhttps://talkfintech.com
TalkFintech is focused on the latest financial sector technologies and tools- covering all tech used by banks, investors, insurance, and wealth management sectors- and also conversations on retail financial management tools.

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