Visa and Mastercard Step Up European Payments Technology Investment as Local Competition Grows

Visa and Mastercard have long dominated cross-border and card payments in Europe, together processing more than 60% of card transactions in the European Union. As the European Central Bank pushes for payments autonomy and supports local options such as Wero Wallet, the U.S. card networks face mounting regulatory, geopolitical and competitive pressure, making their European presence crucial to their global standing.

A June 3, 2026, report said Visa had announced an investment of about $673 million to strengthen payments technology in Europe, with a focus on data and AI applications. Mastercard was also participating in local instant-payment trials. The companies are deepening local infrastructure and partnerships in response to the rise of European payment services such as Wero Wallet.