A new European digital payment system has officially been launched in Germany, the European Payment Initiative (EPI) announced today. From the end of July, the service will also be available to KBC customers in Belgium.
With the name Wero, the online system – available as an app or integrated in bank apps of EPI members – wants to facilitate digital transactions.
The first service launched is person-to-person transaction, whereby transactions can be completed simply using a phone number or an email address. The instant payment can be done in under ten seconds, according to EPI.
The financial group plans to expand Wero's services within the next couple of years, including payments through QR code invoices, for example. In 2026, in-store payments at cash registers will also be possible, along with new services such as 'Buy Now-Pay Later'.
For now, Wero is available to customers of select banks in Germany, but it is expected to reach KBC customers in Belgium by the end of July. Around September/October, the payment solution will be introduced in France. Plans are in the works for future introductions in countries of other EPI partners, like The Netherlands.
"The launch of Wero marks an important step towards enhancing Europe's financial independence," noted EPI chairperson, Joachim Schmalzl.
The EPI is an initiative backed by 16 European banks and financial companies. Its aim is to provide a unified and digital payment service across Europe.
