EPI launches Wero, its European digital payment solution in France

By Gloria Methri

European Payments Initiative (EPI) has launched its instant account-to-account payment solution, Wero, in France. The 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 many of their subsidiaries.

While most banks will initially offer Wero via their applications, La Banque Postale customers will be able to make payments using the Wero app, developed by EPI. It will be available in all smartphone application shops from October 14^th, 2024.

The launch of the person-to-person (P2P) service will enable users with a French bank account to send and receive money simply and instantly, using just a telephone number or email address.

Wero will take over from Paylib, whose 35 million registered users will be offered a simple switch to the European payment service before Paylib is discontinued in early 2025. The plan is to integrate new functionalities later, such as the “Money Request” function and the generation of individual QR codes so that users do not have to give their phone number when making a person-to-person payment.

Following the start of the solution in Germany in July 2024, users from both countries will be able to make cross-border payments between the already rolled-out participating banks and their customers. In Belgium, all member banks will have deployed the solution by the end of the year. Luxemburg and the Netherlands will follow in a subsequent step.

Wero promises to offer a single, secure mobile payment wallet that will eventually encompass all the payment functionalities required by a user in Europe. Due to its integration with member banks, consumers can use Wero via their usual banking application or the standalone app developed by EPI. Wero will give users a complete overview of their spending in real time, enabling them to centralise all their payments simply and securely.

Beyond the P2P use case, EPI’s ambition with Wero is to integrate new functionalities from 2025 as it is rolled out to merchants. This will include payment at small retailers using the Wero wallet, online payment on merchant sites and recurring payment management (such as subscriptions). Point-of-sale payments at major retailers are also included in the wallet’s development plans, with tests scheduled for 2026. Other value-added services, such as Buy Now-Pay Later (staggered payments), the integration of merchant loyalty programs, and shared spending, are also in the pipeline.

“We are delighted to announce the launch of Wero in France. Wero is a cutting-edge, sovereign solution designed by and for Europeans that enables all types of payment to be featured in one single payment solution, starting with person-to-person payments, while incorporating the promise of immediacy and banking security. We have arrived at the right moment in the era of digital payments, offering the solution that Europeans expect for their payments,” said Martina Weimert, CEO of EPI.