Revolut would join the Wero project

New episode in the war that is currently being waged by multiple actors to assert themselves as the leader of the harmonisation of payments in Europe, with the integration of the British neo-bank Revolut Project Wero. This new step would represent an important consecration for the EPI.

FACTS

• The still exclusive and confidential information about the Revolut-Wero alliance comes from the financial and financial technology media in Germany Finanz Szene.

• If it was not confirmed by the stakeholders concerned, it would nevertheless underline a major step forward for the EPI project in Europe. Revolut would indeed include Wero as a payment solution for its customers.

• Revolut would not become an EPI shareholder, but would obtain a status as a "programme member", allowing Revolut's customers to pay with Wero directly from the UK bank application.

• The confirmation of this cooperation announcement would be a first in terms of the integration of a leading Fintech into the pan-European project, which so far relies mainly on traditional banks.

ISSUES

• Strengthening its positions : The signing of a rapprochement with Revolut would represent a second step in the current counter-attack by EPI to consolidate its position as a reference player in the harmonisation of payments in Europe. EPI is in fact facing the EuroPA alliance created by Bancomat, Bizum and SIBS and whose growing ambitions just materialized through the integration of BLIK (the Polish mobile payment system too) against EPI), but also of Vipps MobilePay In particular, EPI recently replied in announcing the integration of Nuvei, the Canadian FinTech, into its membership list.

• Support for major uses : The opening of the Wero payment service to all Revolut customers is an important step in the deployment of the service in Europe. The neobank account in fact close to 53 million users of its services worldwide, of which about 40 million in Europe.

• Deployment of new features announced Revolut would act as an accelerator for the deployment of Wero's e-commerce payment service, according to currently unconfirmed information.

PERSPECTIVE

• If the announcement of Revolut's rapprochement with EPI is confirmed, it would represent a new step in the deployment of Wero and its potential acquisition of a large number of new users.

• Revolut relies on an important client base and the publication of its latest results highlights its good health and ability to to be imposed as a key player in long-term financial services.

• The support of the British neobank is therefore particularly important today for the large institutions. Beyond Wero and EPI, Revolut also comes to announce strengthening its positions on the French market through its intention to apply for a French bank licence and establish its head office in Paris. A decision that involves a major investment by the neo-bank, amounting to more than EUR 1 billion in France over three years (including creating more than 200 new local jobs).

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