Payment Routing: Questions for Large Merchants

What Europe announced

On September 30, 2026, Bancomat, Bizum, EPI with Wero, SIBS with MB WAY, and Vipps MobilePay announced the European Network for Payments, headquartered in Madrid. They say it will connect their payment solutions through a common technical and operational layer based on European standards, including instant account-to-account payments. The solutions say they serve about 130 million users across 13 European countries. The rollout is planned to start with cross-border person-to-person payments, with online and in-store payments in later phases.

What is happening in the US

In the US the debate is about cards. The Credit Card Competition Act would require large banks, those with more than $100 billion in assets, to enable at least two unaffiliated networks on their credit cards, including one outside Visa and Mastercard, as described by its sponsors. In October 2026 the Wall Street Journal reported on renewed White House support. It is still a bill. Nothing changes until it passes and rules take effect.

Debit routing already exists

US debit cards already offer network choice. The Federal Reserve's Regulation II says issuers and networks cannot restrict debit transactions to fewer than two unaffiliated networks, and cannot stop a merchant from directing which enabled network a debit payment is routed over. In practice, routing is usually handled by your processor. Whether you see a benefit depends on how your processor routes and how it prices.

Questions to ask your processor

Put these in writing and keep the answers: Which networks can my debit transactions route over today, and who chooses? Do you route for lowest cost, highest approval rate, or something else? Does any network savings show on my statement line by line, or stay with you? How would my pricing change if credit card routing rules change? What would it take for us to accept pay-by-bank or account-to-account payments, and what would that cost? A processor that can answer clearly is easier to work with whatever the rules become.

What smaller businesses can take from this

For a small business, the main point is the same as always: know your effective rate and how your pricing passes card costs through. If you are on a flat or tiered rate, routing changes or lower network costs may not reach you unless your rate changes. Our guide to bank payments covers when ACH or other bank transfers can be a lower-cost option for invoices and large tickets.

What changes for enterprise and multi-location operations

At scale, small routing differences matter, and so does approval rate. Ask for routing and approval data by network and by location, not only totals. Review it with finance each quarter. Check that your contracts say how pricing responds to changes in network costs. If you sell across borders, follow how account-to-account options develop in the markets you serve, and ask your providers about their plans. Keep one owner for payments strategy so these questions do not fall between IT, finance and operations.