Introduction
European Payments Initiative (EPI) is a European payments company developing Wero, a digital wallet and account-to-account payment solution for Europe. Founded in 2020 and based in Brussels, EPI is backed by major European banks and payment service providers working to build a unified European retail payment scheme. Its goal is to support instant payments, digital wallet use cases, merchant acceptance and greater European autonomy in payment infrastructure.
What is EPI and who does it represent
EPI brings together European banks, payment service providers, acquirers and infrastructure stakeholders involved in building Wero. It is not a traditional lobbying association or general fintech network. It operates as an industry-owned payments initiative focused on scheme development, wallet rollout and payment acceptance.
EPI’s participating institutions are concentrated in European retail banking and payment infrastructure. Its launch markets are Belgium, France and Germany, with wider European expansion planned through Wero rollout and the integration of existing account-to-account payment schemes such as iDEAL and Payconiq.
Mission and advocacy focus
EPI’s mission is to create a pan-European payment solution based on instant account-to-account payments and a unified digital wallet experience. Its work is closely linked to European policy priorities around payment sovereignty, instant payments, digital commerce and reduced dependence on non-European payment networks.
The initiative is especially relevant where European banks, PSPs and merchants need interoperable payment experiences across markets. EPI aims to support person-to-person transfers, ecommerce payments, mobile payments and point-of-sale acceptance under a common European wallet and scheme framework.
Policy domains
- Account-to-account payments — Development of Wero as an instant payment-based alternative to card and wallet schemes.
- Digital wallets and mobile payments — Consumer-facing wallet functionality for P2P, ecommerce and future point-of-sale use cases.
- Merchant and ecommerce acceptance — Rollout of Wero acceptance through acquirers, PSPs and ecommerce payment providers.
- European payment sovereignty — Support for a European-owned retail payment option with reduced reliance on global card and wallet providers.
- Instant payments infrastructure — Use of SEPA Instant Credit Transfer rails and related European payment infrastructure.
- Scheme governance and interoperability — Rules and technical frameworks for consistent user, bank, PSP and merchant participation.
- Integration of national schemes — Transition and integration of local account-to-account schemes such as iDEAL and Payconiq into the wider Wero ecosystem.
Geographic scope and cross-border reach
EPI is focused on Europe. Wero launched first in Belgium, France and Germany, where EPI’s member banks represent a large share of retail banking customers. Further rollout is planned across additional European markets.
The initiative is designed for cross-border European retail payments rather than national-only operations. Its expansion strategy includes bank participation, acquirer participation, PSP integration and the integration of existing national payment solutions into the Wero ecosystem.
Why EPI matters for payments operators
EPI matters for PSPs, acquirers, payment gateways, ecommerce platforms, merchant payment providers, banks and payment orchestration companies operating in Europe. If Wero adoption grows, operators may need to support Wero acceptance, account-to-account payment flows, instant payment settlement, wallet integrations and new scheme rules.
For PSPs and acquirers, EPI is especially relevant where merchant customers want European payment alternatives, lower-cost account-to-account options, mobile wallet payments, ecommerce checkout methods and cross-border European acceptance. Wero may also influence routing, settlement, reconciliation, refunds, disputes, fraud controls and payment reporting.
The teams most likely to follow EPI include payments strategy, product, acquiring, ecommerce payments, integrations, scheme partnerships, legal, compliance, operations, merchant services, government affairs and senior leadership teams.
Who runs EPI and who are the members
EPI operates through EPI Company SE, a European payments company owned by shareholder banks and payment service providers. Its governance and rollout are shaped by participating financial institutions, executive leadership, scheme development work and partnerships with acquirers and payment providers.
EPI is not an open mass-membership association. Participation is mainly relevant to banks, acquirers, PSPs and strategic payment infrastructure stakeholders involved in Wero issuance, acceptance, processing or rollout.
Members and participant categories
EPI’s ecosystem is best described by participant role rather than by a static named-member table.
| Category | Typical participants |
|---|---|
| Shareholder banks | European banks and banking groups supporting Wero issuance and customer rollout |
| Payment service providers | PSPs enabling Wero acceptance, ecommerce checkout and merchant integrations |
| Acquirers | Merchant acquirers connecting retailers and ecommerce merchants to Wero acceptance |
| Payment schemes and local solutions | Account-to-account schemes and payment brands being integrated into the Wero ecosystem |
| Merchants and ecommerce platforms | Businesses that may accept Wero for online, mobile or point-of-sale payments |
| Infrastructure providers | Technology, processing and connectivity providers supporting account-to-account payment flows |
| Policy and ecosystem stakeholders | European institutions, payment bodies and market participants tracking retail payment sovereignty |
Working structures and rollout activity
EPI’s work involves scheme development, wallet functionality, bank integration, merchant acceptance, acquirer onboarding, technical standards, interoperability planning and market rollout.
Key implementation areas include P2P payments, ecommerce payments, merchant onboarding, instant payment processing, dispute handling, fraud prevention, refunds, reconciliation, customer experience and integration of local payment schemes into Wero.
What does EPI publish and who does it influence
Policy and ecosystem engagement
EPI engages with European payment stakeholders, banks, acquirers, PSPs, merchants and public-sector institutions involved in retail payment development. Its influence is strongest in discussions about European payment sovereignty, instant payments, digital wallets and account-to-account merchant payments.
EPI is watched by card schemes, PSPs, banks, merchants, fintechs, regulators and payment-policy teams because a successful Wero rollout could reshape parts of European retail payment acceptance.
Market updates and scheme communication
EPI publishes updates about Wero rollout, bank participation, acquirer onboarding, merchant acceptance, ecommerce launches, partnerships and scheme development. These updates help PSPs and merchants understand where Wero is live, which use cases are supported and when new acceptance options are expected.
For payment operators, useful themes include Wero ecommerce acceptance, acquirer certification, merchant onboarding, iDEAL and Payconiq migration, instant payment processing and rollout by country.
Events and convenings
EPI participates in European payments conferences, banking forums, merchant payment events and industry roundtables. Its public engagement is usually connected to Wero rollout, instant payments, merchant acceptance and European payment infrastructure.
For PSPs and acquirers, the most important updates are product launch announcements, acquirer participation, merchant acceptance milestones, technical integration information and scheme roadmap changes.
How to join or engage with EPI
Companies can engage with EPI depending on their role in the payment ecosystem. Banks may participate as issuers or strategic members, acquirers may enable merchant acceptance, PSPs may integrate Wero into ecommerce and checkout flows, and merchants may access Wero through participating acquirers or PSPs.
EPI is not structured like a standard trade association with simple public membership tiers. The practical engagement route depends on whether the company wants to issue Wero, accept Wero, process Wero payments, provide merchant services or participate in scheme infrastructure.
Access routes and fees
EPI does not publish a simple public membership fee table comparable to a networking association. Costs and requirements are likely to depend on the participation model, technical role, contractual relationship, market and scheme integration requirements.
Companies should confirm current participation options, technical requirements, pricing and certification obligations directly with EPI, Wero, or the relevant acquiring and PSP partners.
What participants commit to
Participating institutions may need to support technical implementation, scheme rules, customer experience requirements, compliance obligations, instant payment connectivity, fraud controls, reporting, dispute processes and operational readiness.
The level of commitment depends on the role: a shareholder bank, Wero acquirer, ecommerce PSP and merchant acceptance partner will each have different responsibilities.
FAQ
What is Wero?
Wero is EPI’s digital wallet and account-to-account payment solution. It launched first for person-to-person payments and is being expanded toward ecommerce and merchant acceptance. Wero is designed as a European payment method built on instant payment infrastructure.
Is EPI a payment scheme?
EPI is best understood as the company and initiative behind Wero, while Wero is the consumer-facing wallet and payment solution. Together, they form an emerging European account-to-account payment ecosystem involving banks, PSPs, acquirers and merchants.
Is EPI the same as the digital euro?
No. EPI and the digital euro are separate initiatives. EPI is an industry-led payments company developing Wero, while the digital euro is a central bank digital currency project led by the European Central Bank and the Eurosystem.
How does EPI affect acquirers and PSPs?
EPI affects acquirers and PSPs through Wero acceptance. Payment providers may need to support Wero checkout, merchant onboarding, instant payment processing, reporting, refunds and reconciliation if merchants want to offer Wero as a payment method.
What happened to iDEAL and Payconiq?
EPI acquired iDEAL and Payconiq International as part of its strategy to build Wero into a broader European account-to-account payment solution. These local payment brands are expected to be integrated into the Wero ecosystem over time.
Does Wero replace cards?
Wero is not an immediate replacement for cards. It is an account-to-account wallet and payment method that may compete with cards, PayPal and other digital wallets in some use cases, especially ecommerce, P2P transfers and future point-of-sale payments.
Where is Wero available?
Wero launched first in Belgium, France and Germany, with additional rollout planned in other European markets. Availability depends on participating banks, acquirers, PSPs, merchant acceptance and country-level rollout schedules.
Can any fintech join EPI?
EPI is not a general fintech association with open membership for any startup. Participation is mainly relevant to banks, acquirers, PSPs, payment infrastructure providers and strategic partners involved in issuing, accepting or processing Wero payments.
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