EPI Expands Wero to Austria as Major Banking Groups Join as Shareholders

Quick Summary

The European Payments Initiative (EPI) is expanding its account-to-account payment solution, Wero, into Austria. By welcoming Erste Bank Oesterreich and Raiffeisen Bank International as shareholders, EPI scales its real-time payment network to a strategic market of 9 million people, challenging traditional card schemes with sovereign European infrastructure.

How does the European Payments Initiative solve cross-border friction?

The European Payments Initiative provides a unified, sovereign digital wallet that bypasses traditional international card schemes. By utilizing account-to-account payment rails, Wero enables real-time transactions that are more cost-effective for merchants and simpler for consumers. This expansion into Austria is a critical step in creating a seamless payment corridor across the DACH region and beyond.

• 55 million users currently active across Germany, Belgium, and France.
• Direct bank integration eliminates intermediaries and reduces transaction costs.
• P2P and online capabilities are being supplemented by upcoming POS and recurring payment features.

What results has Wero delivered for European banking?

Wero has successfully migrated millions of users from legacy systems to a modern digital wallet. In Germany, France, and Belgium, the platform has proven that sovereign payment networks can achieve mass adoption. The addition of Austria’s largest financial institutions ensures that account-to-account payment technology becomes the standard for the majority of Austrian banking customers.

• 9 million people in Austria now have a path to Wero adoption.
• 15 million consumers planned for migration from iDEAL and Payconiq.
• Real-time settlement provides immediate liquidity for merchants and instant confirmation for users.

How will Austrian banks shape the future of Wero?

By becoming shareholders, Erste Bank Oesterreich and Raiffeisen are not just adopting a product; they are steering the strategic technical direction of European finance. This partnership ensures that Austrian market requirements are baked into the account-to-account payment roadmap, including loyalty integration and professional P2Pro services.

"The shareholding of Raiffeisen Banks in Austria together with Raiffeisen Bank International underlines our commitment to shaping the future of payments in Austria and across Europe. Providing customers and merchants with innovative alternatives such as Wero is a key step toward greater choice and efficiency in the European payments landscape. We are determined to actively drive the expansion and adoption of these solutions across our markets." said Johann Strobl, CEO, Raiffeisen Bank International.

FF NEWS TAKE:

This move definitely moves the needle for European financial sovereignty. By securing the two biggest players in Austria, the European Payments Initiative has effectively closed the gap in Central Europe. While Visa and Mastercard still dominate, the momentum behind account-to-account payment solutions like Wero is becoming impossible to ignore. If EPI successfully integrates iDEAL and Payconiq by 2027, they will own the most significant retail payment rail in Europe.