Observed Signal · Apr 24, 2025 · Product Launch · Source: Tech.eu · Impact: 2/5 · Sentiment: Neutral
European Payments Initiative calls for local wallet unity
The European Payments Initiative (EPI), a joint effort by major European banks and financial institutions, is calling for unity among local European digital wallet solutions to strengthen EU payment autonomy. EPI has introduced a new pan-European payment scheme called Wero, which already has over 40 million enrolled customers and covers P2P and P2Pro payments. In a public letter, EPI emphasized the need for self-sufficiency in payment systems, aligning with the European Instant Payment Regulation that mandates instant euro credit transfers. Wero will launch online payments in Germany and Belgium starting summer 2025, expanding to France and the Netherlands, with in-store and invoice payments by 2026. EPI, backed by 16 shareholders, believes cooperation among existing European wallets, which together serve over 120 million customers, can reduce reliance on international networks like Visa and Mastercard.
New European payment scheme may impact e-commerce transactions and data, but it is not directly an advertising technology event.
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Key Takeaways & Evidence Grounding
- EPI introduced a new pan-European payment scheme called Wero
- Wero has over 40 million enrolled customers
- Wero will support online payments in Germany and Belgium from summer 2025
- By 2026, Wero will support in-store and invoice payments using QR codes and contactless technology
- Other European wallets together serve over 120 million customers
Connected Companies & Entities
3 Entities mapped“EPI is a joint effort by major European banks and financial institutions to create a unified pan-European payment system....”
“reduce reliance on non-European payment networks like Visa and Mastercard...”
“reduce reliance on non-European payment networks like Visa and Mastercard...”
Ontology Mapping & Concepts
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