Belgian banks join European Payments Initiative to expand Wero wallet across Europe
FILE PHOTO: A view of a Beobank building in Brussels, Belgium January 31, 2023. REUTERS/Yves Herman/File Photo
Five Belgian banks - Argenta, Bank Van Breda, Beobank, Crelan and vdk bank - said on Monday that they were joining the European Payments Initiative and that they would roll out the EPI's digital wallet Wero to their customers next year.
WHY IT'S IMPORTANT:
The EPI was set up by European banks in a bid to rival the dominance of U.S. companies Visa and Mastercard.
EPI has been hit in the past by some other banks leaving its network.
KEY QUOTES:
"By integrating Wero into our offering from 2026, we will empower our clients – entrepreneurs and liberal professions - with a fast, secure, and intuitive way to manage their payments which is fully aligned with their daily needs," said Bank Van Breda CEO Dirk Wouters.
BY THE NUMBERS:
According to the EPI, the Wero digital wallet it launched last year already has 40 million registered users across Belgium, France, and Germany.
