- European Payment Initiative’s Wero wallet enrolls 14 million users.
- Wero processes eight million transactions post-launch.
What happened
The European Payment Initiative (EPI) has announced that its Wero wallet has enrolled 14 million users and processed eight million transactions since its launch. This milestone comes as EPI expands the Wero wallet’s availability to Belgium, following initial phases in France and Germany. Wero is designed as an alternative to international payment schemes, offering a secure and seamless European mobile payment solution. The wallet is accessible through EPI’s bank member applications and will soon be available as a standalone app.
Also read: Visa offers flexible payments in fintech collaboration with Affirm
Also read: Mastercard trials enhanced subscription management in the US
Why it is important
The rapid enrollment of users in Wero highlights the growing demand for a unified and sovereign digital payment solution in Europe. Wero’s success is significant as it positions EPI to compete with major payment providers like Mastercard and Visa within the region. The wallet’s expansion into new markets and its ability to handle a substantial volume of transactions underscore its potential to streamline payments and bolster Europe’s financial independence. For users, Wero offers the convenience of instant account-to-account payments, enhancing the payment experience and supporting the digital transformation of financial services in Europe. This development is crucial for fostering a more integrated European market and promoting innovation in the payments sector.
