Wise processes through Visa, a US company. That makes them as “EU alternative” as your bank’s card.

Debit cards and Revolut use the Visa/MC networks, which are US-based. Revolut even uses Visa for peer-to-peer transactions.

Here in Portugal, we have MBWay, works with NFC or QR code, it’s free, it also replaces PayPal as you can send money to people and companies with just a phone number. If it could be integrated into an EU system, that would be great.