In brief: PPE wins two new Austrian shareholders

The deployment of Wero to Austria continues. Erste Bank Oesterreich and Raiffeisen Group have just announced that they are becoming shareholders PPE, and committed to the dissemination of the service in their country, reinforcing the ambition of a sovereign pan-European payment solution.

European Payments Initiative (EPI) announces the arrival of new leading shareholders: Erste Bank Oesterreich as well as Raiffeisen Bank International and three Raiffeisen Landesbanken. This capital movement marks a new step in the construction of an integrated European payment solution around the Wero digital portfolio.

The three Raiffeisen Landesbanken concerned, Raiffeisenlandesbank Niederösterreich‐Wien, Raiffeisenlandesbank Oberösterreich and Raiffeisen‐Landesbank Steiermark, intend to join Raiffeisen Bank International to the capital of PPE, subject to the approval of their supervisory boards.

Both banks will offer Wero to their customers. With Erste and Raiffeisen, EPI is thus relying on Austria's main banking groups, which serve the majority of the country's private customers. Austria, with about 9 million inhabitants, thus becomes a strategic growth market for Wero.

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