"wero" as European Digital Wallet Brand

The European Payments Initiative (EPI)* has revealed its choice of the commercial name for its innovative digital wallet solution, naming it "wero". This strategic initiative is designed to introduce a European digital payment platform that meets the evolving payment requirements, providing consumers and merchants across Europe with a seamless and user-friendly payment experience. The acronym EPI will continue to be used as the corporate name.

"wero" is poised to revolutionize the way people in Europe make payments and receive funds. It leverages an account-to-account infrastructure to facilitate faster payment processing and offers an array of value-added services. Through this digital wallet, users gain access to a comprehensive set of features, including secure and swift payments, person-to-person (P2P) transactions, online shopping capabilities, loyalty programs, and more. EPI envisions "wero" becoming the preferred digital wallet in Europe, bridging gaps in the existing payment ecosystem.

Martina Weimert, CEO of EPI, explained the name selection process for "wero", emphasizing its uniqueness and meaningful elements. She stated, "I na market saturated with predictable 'pay' brand names, 'wero' stoodout as it combines different elements that we stand for: the collective European character represented by 'we' and a pronunciation similar to the word 'Euro.' Further more, 'wero' bears a resemblance to 'vero,' which means 'true' in Latin-based languages. The name's simplicity and memorability make it catchy, resonating with the fast-paced nature of digital transactions."

"wero" will be accessible through the applications of EPI's member banks andas a mobile app on both Android and iOS platforms. EPI is actively working towards launching "wero" by mid-2024, starting in Belgium, France, and Germany, followed by the Netherlands, with plans to expand to other countries in the future.

*The European Payments Initiative (EPI) is backed by 16 European banksand financial services companies with the goal of progressively building a payment solution tailored for Europe. EPI leverages the instant account-to-account payments infrastructure available in Europe to enhance efficiency and eliminate intermediaries in the payment process. It aims to enable next-generation payments for consumers and merchants in Europe across all types of retail transactions, starting with person-to-person (P2P) and person-to-professional (P2Pro) payments, followed by online and mobile shopping payments, and point-of-sale payments.