European digital wallet Wero launches into e-commerce
Wero, the European digital wallet, is preparing to launch online payment to counter American giants like Visa, MasterCard, Paypal or Apple Pay.
Quick Look
- The European digital wallet Wero is preparing to invest in the e-commerce sector to compete with American payment giants.
- BNP Paribas will be the first bank to offer this service.
AI-generated summary
Why It Matters
Wero was set up by 16 European banking establishments to counter American payment players.
The French will soon have a new means of payment when they buy online. And it will be 100% European. Wero, the digital wallet which already allows instant transfers from account to account, is launching into e-commerce.
Wero was set up two years ago by 16 banking establishments from the Old Continent - including all the French - to counter the American behemoths, Visa, MasterCard, Paypal and Apple Pay, which largely dominate the market. Since then, more than 45 banks from the Old Continent have been part of the European Payments Initiative (EPI) consortium, which is developing the tool. “The moment of truth is coming for Wero,” assures Thierry Laborde, Deputy Managing Director of BNP Paribas, which will be the first bank to offer online payment in the coming weeks, before being quickly followed by other establishments. Opening up to merchants will be a new decisive link for this digital payment wallet.”
Wero has already started…
What to Watch
AI outlook — possibilities, not facts
BNP Paribas will offer Wero online payment in the coming weeks.
Very likely · Within weeks
Open Questions
- What other banking establishments will BNP Paribas follow?
- What will the actual adoption be by online merchants?
