A positive milestone for Wero in France

After entering the French market in early October 2024, the European Payments Initiative's Wero solution (EPI), supported locally by French banks, seems to find its place in the territory. The first feedback on its adoption was positive, according to the Director General of EPI.

FACTS

• Martina Weimert, the Managing Director of EPI, a group in charge of the deployment of the Wero instant payment application, has folded into a communication exercise by presenting the first figures concerning the deployment of Wero in France.

• In 2 months the Wero service would have conquered 17.1 million users in Europe (through France, Germany and Belgium). And the French market is a priori its most important support since 80% of Wero users would be French.

• In France, while the six largest banks currently offer the service, other institutions should soon also be involved in its deployment.

• LCL, Bred, Fortuneo, Monabanq, BforBank and Hello Bank are notably identified as the future complementary players to offer Wero to their customers.

ISSUES

• Monitoring : The European Payments Initiative (EPI) was already in the process of present these advances in a few figures a few days ago. At the same time as it continues its deployment, the service must already reassure the realism of its ambitions. And the presentation of the first figures for the French market is precisely the same.

• Half-tone adoption : If the Director General of EPI states that these figures are encouraging, Wero did not record than 8 million transactions at the end of December, highlighting more the effective migration of local service customers (Paylib in France) than a real adoption. In France, for example, Paylib had 15 million active users.

PERSPECTIVE

• The European Payment Initiative (EPI) is a European payment project based on the tracks of instant transfer.

• The European EPI Card System, announced in summer 2020, initially aimed at creating a new integrated pan-European payment solution to compete with Visa and Mastercard. The project has encountered difficulties, manifested by tensions, and even had to give up Some of his ambitions.

• It was finally relaunched in April 2023 at the time of the announcement of the repurchase Two important players in the Benelux area, Payconiq and Currence (the origin of the iDEAL payment solution). He chose in September following his trade mark in order to give substance to the project currently being deployed, first in Germanythen in France.

• Wero should finally land in Luxembourg and the Netherlands in 2026.

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