EPI launches wero in Germany

Tuesday 2 July 2024 11:15 CET | News

The European Payments Initiative (EPI) has announced the launch of its wero payment solution in Germany.


Specifically, the product will become available for customers of German Sparkassen and Volksbanken, Raiffeisenbanken, with Deutsche Bank's Postbank to follow later this year. The service will extend to KBC customers in Belgium by the end of July and is slated for launch in France by September/October following summer pilots. Over the next six months, all EPI bank members are expected to roll out the service according to the official press release. 

Wero's initial offerings focus on person-to-person (P2P) transactions, emphasising speed with transfers completed within 10 seconds using phone numbers, app-generated QR codes, or email addresses directly into recipients' bank accounts without intermediary steps. Future plans include expanding these capabilities across borders and integrating additional payment functionalities across Europe, beginning with Belgium and France, and subsequently including the Netherlands and Luxembourg.


The European Payments Initiative (EPI) has announced the launch of its wero payment solution in Germany.


Future updates

Looking ahead to 2025, wero aims to introduce features such as payments to small businesses and merchants via QR codes, recurring payment management, and integration with merchant apps for in-store purchases. By 2026, further enhancements are planned, including Buy Now-Pay Later options, merchant loyalty programmes, and expense sharing. 

Officials from EPI highlighted the launch of wero as a significant milestone, underscoring its future potential to unify various payment types into a single, secure banking-integrated wallet for European consumers. They also talked about wero's role in advancing Europe's financial autonomy and its gradual evolution into a comprehensive digital payment solution. 

DSGV (Deutscher Sparkassen- und Giroverband) and DZ Bank are integral to EPI's ecosystem, representing regional savings banks associations and cooperative financial networks respectively, supporting wero's integration and development within Europe's financial landscape.

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Keywords: product launch, payments , financial services, banks
Categories: Payments & Commerce
Companies: EPI, Wero
Countries: Germany
This article is part of category

Payments & Commerce




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