European Payments Initiative (EPI), a European player committed to offering a sovereign payment alternative to all consumers in the region, today announces the launch of Wero. The European instant account-to-account payment solution will be available to French customers of BNP Paribas, Groupe BPCE, Crédit Agricole, Crédit Mutuel Alliance Fédérale, Crédit Mutuel Arkéa, La Banque Postale and Société Générale, as well as a large number of their subsidiaries. While most banks will initially offer Wero via their own applications, La Banque Postale customers will be able to make payments with the Wero application, developed by EPI. It will be available in all smartphone application stores from the second half of October 2024. The first Wero brand campaign will be launched in France on October 14.
The deployment schedule is as follows:
- BNP Paribas: From October 24, 2024
- Groupe BPCE: From September 2 to October 2, 2024
- Crédit Agricole: September 26, 20241
- Crédit Mutuel Alliance Fédérale: From September 25 to November 6, 2024
- Crédit Mutuel Arkéa: January 2025
- La Banque Postale: October 28, 2024
- Société Générale: From October 24, 20242
The launch of the person-to-person (P2P) service will allow users with a French bank account to send and receive money simply and instantly, using just a phone number or email address. Wero takes over from Paylib, whose 35 million registered users will be offered the option to simply switch to the European payment service before Paylib is discontinued at the start of 2025. It is planned to subsequently integrate new functional developments3 such as the “Request for money” as well as the generation of individual QR codes allowing you not to transmit your telephone number when making a payment from person to person.
With the service already available in Germany since July 2024, users on both sides of the border will now be able to make cross-border payments between participating banks that have already made the solution available to their customers. In Belgium, all member banks will have deployed by the end of the year4. Luxembourg and the Netherlands will follow soon.
The promise of the Wero service is simple: to offer a unique and secure mobile payment wallet ultimately bringing together all the payment functionalities necessary for a user in Europe. Thanks to its integration with member banks, the consumer can use Wero via their usual banking application or via the standalone application developed by EPI. Wero will thus give users, in real time, a complete overview of their expenses and will allow them to centralize all of their payments in a simple and secure manner.
Beyond the P2P use case, Wero aims to integrate new functionalities from 2025, with its deployment to merchants. This will include payment at small merchants from the Wero wallet, and, ultimately, online payment on merchant sites as well as the management of recurring payments linked to subscriptions. Payment at the point of sale at large retailers also features in the development plans of the walletand tests are planned from 2026. Other value-added services, such as Buy Now-Pay Later (installment payments), the integration of merchant loyalty programs, or expense sharing, are also in preparation.
Within 3 to 4 years, Wero will be a single European payment wallet offering everyone the ability to take greater control of their finances, simply and securely, while respecting their data privacy and compliance needs with European regulations.
« We are delighted to announce the launch of Wero in France. Our goal is to simplify life and payments. Wero is unique. It is a state-of-the-art, sovereign solution, designed by and for Europeans, which makes it possible to offer all types of payments, starting with person-to-person payments, while integrating the promise of immediacy and banking security. We arrive at the right time in the era of digital payments, offering the solution that Europeans expect for their payments. “, noted Martina Weimert, P-DG of EPI.
“Wero responds to the strategic challenge of seeing the emergence of a European payment platform in a very competitive global environment. This makes it possible to offer more value to customers, and greater simplicity for their daily payments in France and in partner countries. Already launched in Germany and now in France, we are delighted that Belgium, Luxembourg and the Netherlands will soon join us, and will be keen to welcome tomorrow the other countries wishing to participate in this European initiative. » added Thierry Laborde, Deputy CEO of BNP Paribas.
« With Wero, Groupe BPCE now offers all Banque Populaire and Caisse d’Epargne customers a new instant account-to-account payment solution that perfectly meets new expectations. Last December, Groupe BPCE was a pioneer when it successfully carried out the first cross-border instant payment transactions. On this occasion, we were able to show our know-how in payments and, with the European banks grouped within EPI, our desire to transform the European payments landscape by developing sovereign solutions. », declares Yves Tyrode, General Manager Digital & Payments of Groupe BPCE.
« With a strong stake in sovereignty at the European level, Wero allows us to provide our customers with a simple, secure and easy-to-use solution. Wero will offer users comprehensive coverage of new payment uses. With Paylib we have opened the way to the use of Instant Payment, with Wero we are going to move up a gear. », comments Philippe Marquetty, Managing Director of Crédit Agricole Payment Services.
« The launch of Wero in France represents a key step in strengthening European sovereignty in the financial sector. This initiative not only strengthens consumer confidence by offering them standardized and secure payment solutions, but it also contributes to the growth of the European economy by facilitating faster and completely reliable transactions, while promoting innovation and the competitiveness of our continent. », complete Eric Petitgand, Managing Director of Crédit Mutuel Alliance Fédérale.
“The launch of Wero marks a decisive step for the European payments ecosystem. As a player committed to innovation, Crédit Mutuel Arkéa fully supports this initiative which embodies the ambition to offer a sovereign and instant payment solution. Wero is part of our vision of an inclusive digital future at the forefront of technological developments. This progress reflects not only our ability to respond to the changing needs of our customers, but also our role as a pioneer in terms of innovation. banking.”comments Laurent Jurrius, Innovation and Operations Department, Crédit Mutuel Arkéa Group Comex.
« I am delighted with the arrival in France of Wero, which, as a true payment hub, will bring a universal approach to Europe, opening the door to Peer 2 Peer, digital commerce or local commerce. This universality of payment across each use case experienced by our customers will be facilitated thanks to its simple and intuitive application guaranteeing a fluid, unique and consistent user experience. For several years at La Banque Postale, we have been pursuing a proactive policy of supporting the digitalization of payments with the aim of developing useful, inclusive and committed innovations for the purchasing power of our customers. The democratization of free Instant Payment from 2022 and our pioneering role in the Paylib then EPI projects reflect LBP’s strategic interest in the development of payments. “, noted Zakaria Moursli, Deputy General Manager at Banque Postale in charge of operational performance, payments and digital.
“The Société Générale group is proud to participate in this fantastic collective initiative which will provide our customers with a new European, instant and innovative payment solution. We are convinced that the historical know-how of banks in terms of security, protection of their customers, and support for transformations are essential assets to ensure the success of Wero.”added Philippe Aymerich, Deputy Managing Director of the Société Générale group.
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1 With the exception of LCL.
2 For SG bank.
3 Certain banking establishments such as the SG bank (Societe Generale group) will integrate these two functionalities from the initial deployment.
4 The KBC-CBC and Belfius banks have already made the Wero service available to their customers.
