People will soon be able to pay with a QR code throughout the eurozone. At present, QR codes can only be used domestically (not internationally) and work using an individual's banking app or Payconiq.
Currently, every country has its own payment scheme, which prevents paying with Payconiq or a QR code via a banking app abroad. This will change later this month.
The European Payments Initiative (EPI) – an alliance of 16 major European banks including KBC, Belfius, ING and BNP Paribas – has been working on a solution to this for four years. Under the brand name "Wero" the payment service was launched in Germany on Tuesday. Belgium will follow at the end of July and France after the summer.
Taking over Payconiq
In six months' time, all 16 participating European major banks will support the service.
It is no coincidence that Belgium, Germany and France are at the forefront of the rollout of "Wero"; the three countries currently account for the lion's share of digital payments in the eurozone.
In Belgium, KBC will be the first bank to gradually offer "Wero" in its app. "The payment method was first thoroughly tested with our own employees. Those tests proved successful," Viviane Huybrecht, head of communications at KBC, told VRT. The logo can already be seen in the KBC app.
While Wero and Payconiq will initially co-exist, the international system will gradually take over Payconiq's functionalities.
