EPI's Wero Wallet Surges to 14 Million Users

​The European Payment Initiative (EPI) has marked a milestone with the enrollment of 14 million users for its Wero wallet, a digital payment solution designed to compete with industry giants like Mastercard and Visa. Since its launch, Wero has successfully processed eight million transactions, illustrating a strong uptake among consumers.

Following its initial rollout in France and Germany, Wero is now expanding into Belgium, further solidifying its presence in the European payments landscape. Joachim Schmalzl, managing director of the German Savings Banks Association (DSGV), emphasized the initiative's goal to create a new benchmark for digital payments in Germany. He noted that the Sparkassen-Finanzgruppe is committed to enhancing user experience and providing a secure payment environment, which is already drawing interest from merchants.

Beginning this Monday, Postbank customers has gained access to the standalone Wero app for account-to-account (A2A) payments, while Deutsche Bank users can expect the service to launch in 2025. The integration of Wero into the banking applications of both institutions is slated for a later date, broadening accessibility for a larger user base.

Dominik Hennen, Deutsche Bank's head of personal banking, underlined that Wero represents more than just another payment application; it is part of a broader vision for a standardized payment ecosystem across Europe. The app will soon enable payments to small professionals, online merchants, and invoices via QR codes, enhancing convenience for consumers. Features such as managing recurring payments and point-of-sale transactions without needing cashier interaction will also be introduced.

Looking ahead, in-store payments at cash registers are expected to roll out in 2026, alongside additional features like buy now, pay later (BNPL) options and merchant loyalty program integration. The EPI has indicated ongoing discussions with other banks to expand participation in the initiative by 2025.

Martina Weimert, CEO of EPI, expressed optimism about the phased launch of Wero across three countries, highlighting the focus on increasing market penetration and collaborating with merchants to enhance commercial payment capabilities. With a strategic, step-by-step approach, EPI aims to build Wero into a compelling success story within the European payment sector.