wero will be available through EPI’s member banks’ applications and as a mobile application on both Android and iOS platforms. Currently, EPI is actively working towards launching wero by mid-2024 in Belgium, France and Germany, followed by the Netherlands, and aims to extend to other countries in the years to come.
The European Payments Initiative (EPI) announced the selection of “wero” as the commercial name for its digital wallet solution. „This strategic initiative aims to deliver a European digital payment solution built to meet evolving payment needs and to provide a seamless and user-friendly payment experience to consumers and merchants across Europe.” according to the press release. The acronym EPI will continue to exist as the corporate name.
„wero is set to redefine the way people living in Europe pay and would like to get paid, by leveraging an account-to-account infrastructure enabling faster payment flows with a wide range of value-added services.” EPI said.
„Through this new digital wallet, consumers will have access to a comprehensive range of features, such as secure and fast payments, person-to-person (P2P) transactions, online shopping capabilities, loyalty programs, etc. EPI envisions wero to become the preferred digital wallet in Europe, bridging the existing gaps in the current payment ecosystem.” the company explained.
”Choosing the name wero was a meticulous process involving extensive research, and quantitative and qualitative feedback from consumers. In a market filled with predictable “pay’” brand names, wero stood out from a list of 238 candidate names we considered since it combines different elements which we stand for: the collective European character of the “we” and a pronunciation close to the word “Euro”. Finally, wero is close to “vero” meaning “true” in Latin-based languages. I personally find it catchy with its simple yet memorable structure. The short and snappy sound resonates with the fast-paced nature of digital transactions”, says Martina Weimert – the CEO of EPI.
The wero digital wallet will be rolled out in phases, initially to support account-to-account based instant P2P and consumer-to-business payments, followed by online and mobile shopping payments and then point-of-sale payments.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below: