European Payments Initiative

The European Payments Initiative (EPI), previously known as the Pan-European Payments System Initiative (PEPSI), is a European Central Bank-backed payment-integration initiative aiming to create a pan-European payment system and interbank network to rival Mastercard and Visa, and eventually replace national European payment schemes such as France's Carte Bancaire and Germany's Girocard.

It is supported by the European Commission, and currently comprises fourteen major European banks and two acquirers (including all the major French banks, Deutsche Bank in Germany.)