2023-09-22 14:55:50
No “pay” but a sound close to “euro”. The banks brought together within EPI announced Thursday, September 21, the commercial name of the future European instant payment system from individual to individual, intended to replace Paylib: it will be wero.
“Wero emerged from a list of 238 names,” explains Martina Weimert, CEO of EPI, for European Payments Initiative, in the press release revealing the commercial name of what is destined to take the place of “Paylib entre amis” in France. The absence of the word pay is voluntary, Martina Weimert explaining that EPI precisely wanted to avoid blending into a “market full of brand names pay predictable”.
Payments: what is this PPE that will replace Paylib and wants to compete with the bank card?
Wero wants to be l’alliance you against « we », “we” in English, for the unifying and European character, and the word “ euro ”, for more obvious reasons.
Wero arrives in France mid-2024
EPI takes advantage of this press release to specify the deployment schedule for this new instant payment solution, from individual to individual. It will be from mid-2024 in France, as in Belgium and Germany, before targeting the Netherlands and then other European countries.
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EPI is today owned by 16 major European banks, including the French BNP Paribas, BPCE, Crédit Agricole, Crédit Mutuel, Banque Postale and Société Générale. There wero payment solution will therefore allow you to make small payments between individuals in partner banks, like Paylib between friends today, via the future wero app which will be available on Android and iOS. The ambition of the EPI project, however, goes further than simple payment between individuals, since it aims to develop this method of instant payment in stores, online, etc.
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