Changing the way Europe pays

EPI stands for European Payments Initiative launched by 16 banks and financial service companies to create a new digital wallet (wero) and a unified account-to-account solution.


The solution aims to become a new standard in payments for European consumers and merchants across all types of retail transactions including in-store, online, and “person-to-person”.

EPI shareholders aim to enhance the market by introducing Wero, a comprehensive payment solution based on the Instant Payment scheme as defined by the European Payments council (EPC).
Wero is designed to support a variety of transactions, including merchant and person-to-person payments, offering security, immediacy, and ease of use. This initiative aligns with Europe’s push towards instant payments, echoing calls from European authorities for banks and payment providers to develop an independent, alternative payment system based on Instant Payment schemes.

EPI aims to revolutionise digital payments in Europe by offering a consistent solution across all major retail scenarios, including peer-to-peer (P2P), point of sale (POS), and online commerce. This initiative addresses the current fragmented payment landscape in Europe, fulfilling the long-standing demand from both merchants and consumers for a unified pan-European payment approach.

Benefits to European Citizens and Merchants

• For Consumers: EPI promises innovation in payment methods, transitioning from the 50% of transactions still conducted in cash to a more digital approach.
• For Merchants: It offers a seamless, competitive, and unified payment solution, available to all European consumers.

Wero is a new payment solution that aims to become the standard for European consumers and merchants. It will be available through EPI’s member banks’ applications and as a mobile application on both Android and iOS platforms. EPI is actively working towards launching wero in Belgium, France, and Germany in 2024, followed by the Netherlands, with plans to expand to other countries in the future.

Wero aims to enrich the payment options available to European consumers and merchants. EPI as a new and innovative market player may be expected to increase competition both in terms of quality and conditions.

Instant Payments allow the development of a service covering multiple payment use cases such as paying friends and family, paying in a shop, paying online, paying a bill or an invoice, which no other single solution offers for the time being.

EPI is open for European market players, individual banks or banking communities, as well as payment service providers to apply and join EPI. For the time being, 16 European banks and financial services companies are involved spanning across five European countries, including leading pan-European third-party acquirers.

Like existing international solutions, Wero is being designed as a consistent solution across countries. EPI participants will progressively roll out Wero to their customers. EPI’s ambition is for Wero to become a new standard of payments in Europe, thus offering an independent European alternative. Wero as an emerging scheme intends to pursue collaborative discussions with both international and domestic payment schemes.

EPI has interacted and continues interacting with European merchant associations to get their feedback on the solution and ensure that Wero will cater for their needs.

EPI Company continues work and preparations for launch. We expect to communicate further in the coming months.

If you are a journalist interested in covering EPI you may register your interest to receive EPI updates the instant they’re available here.