European payment system “Wero” starts:
In the European Payments Initiative, 16 European banks are trying to create a counterweight to Paypal, Mastercard and Visa ...
heise.de/news/Europaeisches-Bezahlsystem-Wero-startet-9785880.html
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Key FactsEuropean Payment System Wero Launches
Jul 2, 2024 · Reading time: ~30 sec.
Summary created with AI assistance · Source: heise.de
Summary created with AI assistance · Source: heise.de
- The European payment system Wero by the European Payments Initiative (EPI) has launched, enabling mobile payments from one phone to another.
- Wero allows real-time money transfers using mobile phone numbers or email addresses without the need for an IBAN.
- Partner banks like KBC from Belgium are already on board, with others set to join, while some major banks like Deutsche Bank will enter later.
- Wero aims to strengthen European sovereignty in payment transactions by providing an alternative to US financial giants, reducing dependence on non-European providers.
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New European payment system launches: Wero now competes with PayPal and Apple Pay
spiegel.de/netzwelt/web/neues-europaeisches-bezahlsystem-wero-startet-konkurrenz-fuer-paypal-und-apple-pay-a-91fd379b-bc05-4ee2-a197-1dfc1d47eb87
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New European payment system Wero launched: With the European Payments Initiative, 16 European banks are trying to create a counterweight to Paypal ...
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Key FactsING Plans Wero Integration for Instant Transfers
Aug 14, 2025 · Reading time: ~45 sec.
Summary created with AI assistance · Source: boerse-online.de
Summary created with AI assistance · Source: boerse-online.de
- ING announced the integration, but the article says Wero’s success remains uncertain.
- With Wero, users can send money instantly to phone numbers or email addresses instead of account numbers.
- The European Payments Initiative launched Wero in July 2024; initially, German customers accessed it through savings and cooperative banks.
- In a Verivox survey, nearly 70 percent of 1,031 respondents said they had not heard of Wero or did not understand it.
As Europeans, we would do well to work on our own payment systems to become self-sufficient here as well and to reduce dependence on other payment methods.— Stoy, ING Germany CEO; on the need to develop European payment systems to gain autonomy and reduce dependence on other payment methods.
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