Austrian banks ready to join EPI

The European Payments Initiative (EPI) would be in the process of joining a new banking community in its cause. It has just revealed that it has entered into discussions with Austrian banks on the possibility of their accession to the European Payment Initiative. This strategic decision would include the proposal of the Wero payment service by the Austrian banks concerned.

FACTS

• In a LinkedIn post, EPI therefore confirms the discussions with the Austrian banking community regarding their potential entry into the European Payments Initiative.

• Payment Services Austria (PSA) was tasked with assessing the value and benefits for customers that might arise from the accession of Austrian banks to EPI.

• The latter could adopt the European-wide interoperable digital portfolio solution Wero. They could offer their customers instant account-to-account payments via a mobile phone number or QR code, without IBAN required.

• Austria would thus join the other markets currently covered by Wero, namely Belgium, France, Germany, the Netherlands and Luxembourg.

ISSUES

• Conforting local positions : EPI could already boast of having won Austrian support in its unbridled race to enable it to impose itself as the undisputed reference to the harmonisation of payments and European monetary sovereignty. She recently signed a partnership with the Unzer payment platform allowing it to gain new weight support in Germany and Austria.

• A new step : The implementation of an independent model of sovereign payment system in Europe is now reaching a new stage marked by the potential integration of the Austrian banking community but also by the acceleration of partnership signatures with other actors involved.

PERSPECTIVE

• In addition toannouncement of its recent association with EuroPA, logical and salutary for European monetary sovereignty, EPI has in recent weeks continued to enrich its list of partners.

• Austrian banks would indeed join five new Belgian members and the banks of the Luxembourg, Revolut, Nuvei and all other major players involved in the initiative for a longer time.

• As a reminder, EuroPA is based in Spain, Italy, Portugal, Poland and the Nordic countries.

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