European Payments Initiative
The European Payments Initiative (EPI) is a banking consortium operating the Wero pan-European digital wallet, built on SEPA Instant Credit Transfer rails. It serves over 56 million consumers across Belgium, France, and Germany through 18 shareholder banks and 50+ member institutions, targeting European payment sovereignty.
- Company typePrivate
- Founded2020
- HeadquartersMolenbeek, Belgium
- Headcount11–50
- GTM typeB2B
- OfferingServices
What European Payments Initiative does
The European Payments Initiative (EPI) is a private banking consortium structured as a Belgian societas Europaea that operates the Wero pan-European digital wallet. Founded in 2020 by 16 European banks and payment service providers, EPI has grown to 18 shareholders and more than 50 member institutions, including BNP Paribas, Deutsche Bank, ING, Crédit Agricole, Belfius, KBC, Société Générale, Erste Bank, and Raiffeisen. Wero is built on SEPA Instant Credit Transfer rails, enabling direct account-to-account payments without intermediary PSPs, with transactions settling in under 10 seconds. The platform serves over 56 million users across Belgium, France, and Germany, with active expansion into Luxembourg, the Netherlands, and Austria. EPI generates revenue through transaction-based fees on instant payments processed through Wero, with pricing negotiated bilaterally between member banks, acquirers, and merchants rather than published publicly.
EPI Company SE was authorized by the National Bank of Belgium as a payment institution in February 2024, licensed as PISP and AISP covering 7 payment initiation services and 8 account information services. The company operates as the governance and scheme infrastructure for a four-corner payment ecosystem linking banks, consumers, acquirers, and merchants. In April 2023, EPI acquired the Dutch payment solution iDEAL (handling 70%+ of Dutch online transactions) and Payconiq International, both of which are being migrated to Wero by end of 2027. The company's go-to-market relies on distribution through member banks' mobile applications plus a standalone Wero app on iOS and Android, with merchant acceptance enabled through Acceptor PSPs including ACI Worldwide, Global Payments/Worldpay, Nuvei, Adyen, Worldline, and Airwallex.
The business model targets Europe's fragmented payment landscape, where Visa and Mastercard process an estimated 60-65% of European card transactions and roughly 50% of consumer transactions remain in cash. EPI positions Wero as a sovereign European alternative emphasizing data residency in European data centers, direct A2A economics that eliminate intermediary costs, and regulatory alignment with the EU Instant Payments Regulation effective January 2025. Roadmapped features include BNPL options backed by banks, e-ID verification, and merchant loyalty integration. EPI has a registered share capital of €669M and operates with a lean 11-50 employee fully remote workforce, with bank partners absorbing distribution and customer service costs.
European Payments Initiative firmographics
Firmographics- Name
- European Payments Initiative
- Legal name
- EPI Company SE
- Website
- https://epicompany.eu
- Company type
- Private
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- The European Payments Initiative (EPI) is a banking consortium operating the Wero pan-European digital wallet, built on SEPA Instant Credit Transfer rails. It serves over 56 million consumers across Belgium, France, and Germany through 18 shareholder banks and 50+ member institutions, targeting European payment sovereignty.
- Ownership category
- akta.pro rank
European Payments Initiative industry classification
Industry- Product category
- Payment Network Infrastructure
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)
- akta.pro primary industry
- A2A Checkout & Merchant Acceptance Solutions (FSAMAFAF)
- akta.pro secondary industries
- Bank-to-Bank Transfers & Pay-by-Bank (Consumer & Merchant) (FSAMAFAC), Instant Payment Scheme Connectivity & Processing (e.g., FedNow, SEPA Instant, Faster Payments) (FSAMAHAD), Embedded Payments (Pay-ins, Pay-outs, Wallets) (FSAGALAB)
Keywords
Where European Payments Initiative is headquartered
LocationHeadquarters
- HQ city
- Molenbeek
- HQ country
- Belgium
- HQ region
- Europe
Offices1 record
Markets served
European Payments Initiative business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Others
Revenue model
- Transaction-based fees on instant payments: EPI generates revenue through transaction fees on instant payments processed through the Wero platform. The scheme eliminates intermediaries in the payment chain, offering a cost-effective alternative to traditional card networks for banks, merchants, and consumers.
Go-to-market motion1 record
Distribution channels4 records
Marketing channels7 records
European Payments Initiative product offering
Product offeringCore offering
European Payments Initiative operates the pan-European Wero payment scheme and the Wero digital wallet, enabling instant account-to-account payments between consumers and merchants across participating banks and PSPs. The company supplies the scheme rulebook, brand, and integration infrastructure that member banks use to deliver a unified European payment experience, replacing legacy national schemes with a single harmonized solution built on SEPA Instant Credit Transfer rails.
Product overview
EPI operates as a payment scheme backed by 18 European banks and payment service providers, with Wero as its core digital wallet product. Wero is a pan-European instant payment solution based on SEPA Instant Credit Transfer rails, offering peer-to-peer transfers, e-commerce payments, and point-of-sale purchases. EPI acquired iDEAL (Netherlands' dominant online payment method) and Payconiq International to expand its reach and facilitate migration of national schemes to the Wero platform. The company also provides payment scheme rules and governance for the four-corner payment ecosystem involving banks, consumers, acquirers, and merchants.
Differentiator
Problem solved
Functional benefit
Brands
- Wero: A pan-European digital wallet launched by EPI, enabling instant account-to-account payments via SEPA Instant Credit Transfer. Available in Belgium, France, Germany, Luxembourg, and the Netherlands, with expansion to Austria underway. Supports P2P transfers, e-commerce payments, and point-of-sale transactions.
Products and services
- Wero digital wallet
Quantifiable outcome
- Over 56 million users across Belgium, France, and Germany as of June 2026
- +4 more outcomes
Companies that use European Payments Initiative
Customer profileNamed customers10 records
Segments4 records
Ideal customer profiles3 records
European Payments Initiative technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration6 records
Feature2 records
European Payments Initiative partnerships and signals
Strategic signalPartnerships
16 partnerships are on record, tiered core.
- Erste Bank OesterreichcoreAustrian banking group and lead institution of Austrian Sparkassen group with 4.3 million private customers. Joined EPI as shareholder alongside Raiffeisen to bring Wero to Austrian customers, representing a strategic growth market for the pan-European payment solution.
- Raiffeisen Bank InternationalcoreLeading Austrian corporate and investment bank covering Austria and Central and Eastern Europe. Joined EPI as Acceptor PSP enabling merchants within network to accept Wero payments for e-commerce and point-of-sale transactions. Serves 18.6 million customers through subsidiary banks.
- Raiffeisen Landesbanken (NÖ-Wien, Oberösterreich, Steiermark)coreThree Austrian regional Raiffeisen banks joining RBI as EPI shareholders to support Wero rollout in Austria. RLB NÖ-Wien is the leading institution in Lower Austria and Vienna; RLB Oberösterreich has EUR 49 billion in assets; Raiffeisen-Landesbank Steiermark serves 800,000+ banking relationships.
- RabobankcoreRabobank is migrating the Netherlands' dominant iDEAL payment system (handling 70%+ of Dutch online transactions) to Wero, powered by ACI's Real-Time Payments Processing technology. Migration expected to complete by end of 2027, representing one of Europe's largest payment transformations.
- Bancontact Payconiq CompanycoreBelgian payment company managing Bancontact and Payconiq schemes. Luxembourg Payconiq shutting down September 30, 2026 with major banks launching Wero in mid-2026.
- ACI WorldwidecoreJoined EPI as Technical Service Provider and Principal Member. Integrating Wero wallet solution onto ACI's Payments Orchestration Platform, enabling merchants and financial intermediaries across Europe to offer Wero as a payment method. ACI powers 26 domestic and pan-regional instant payment schemes globally.
- BoursoBankcoreFrance's leading online bank with 8.9 million customers integrating Wero for P2P transfers via mobile phone numbers. First bank in France to offer Wero to customers aged 10-17. Partnership completes Wero's coverage of the French market.
- ING GermanycoreING Germany expanded Wero beyond peer-to-peer payments to include online payments at participating retailers. Over 600,000 ING customers have activated Wero (15% of current account holders), achieving Germany's highest activation rate. Partners include Eventim, IKEA Germany, and Lidl online shop.
- Global Payments (Worldpay)coreGlobal Payments' Worldpay business joined EPI as Principal Member, enabling its merchant clients to accept Wero across Europe. The move aligns with Global Payments' shift to a pure-play commerce solutions model following the Worldpay acquisition (USD 24.25 billion in January 2026).
- N26coreEuropean digital bank announced partnership with Wero to integrate instant payment options across Europe starting H2 2026. Partnership aims to enhance payment experience with P2P transfers, instant transactions, and IBAN-less payments using phone numbers or email addresses, initially launching in Germany, France, and Netherlands.
- NuveicoreLaunched Wero Payments targeted at European eCommerce merchants. Nuvei's merchants including CamperDays have started processing transactions via Wero, enabling instant, secure account-to-account payments across Europe using SEPA protocols.
- AirwallexcoreGlobal financial platform became Principal Member of EPI, integrating Wero Wallet into its offerings. Partnership aims to enhance cross-border payments for merchants across Europe, starting in Germany before expanding to France and Belgium. Airwallex crossed US$1bn annualized run rate revenue threshold in 2025.
- ABN AMRO, ING, Rabobank (iDEAL Migration)coreMajor Dutch banks collaborating on iDEAL transition to Wero beginning early 2026. ABN AMRO, ING, and Rabobank supervising the migration under Dutch Central Bank oversight to create unified, secure payment system across Europe with seamless cross-border transactions and expanded services like purchase protection.
- RevolutcoreUK-based fintech joined EPI as member, expanding Wero's reach to include Revolut's European customer base alongside existing bank partners.
- MolliecoreDutch payment service provider joined EPI as member, enabling Wero acceptance for merchants through Mollie's platform across Europe.
- EuroPA AlliancecoreEPI and EuroPA Alliance signed MoU on February 2, 2026, creating interoperability hub linking national payment systems (Bizum, Bancomat, MB WAY, Vipps MobilePay) across 13 countries with approximately 130 million users.
Scale indicators6 records
Recent moves10 records
Expansion highlights6 records
European Payments Initiative competitors and assessment
Company assessmentBroad incumbents
- Visa: Global card network processing the majority of European card transactions. Visa is the dominant incumbent alternative Wero explicitly positions against as a pan-European A2A replacement.
- Mastercard: Global card network and Wero's other primary competitor in European card payments. Both Visa and Mastercard process 60-65% of European card transactions and are the explicit incumbents EPI seeks to displace.
- PayPal: Global digital wallet and online payment network with established European merchant and consumer reach. PayPal is a broad incumbent alternative competing for the same cross-border e-commerce payment flows Wero targets.
Direct peers
- Swish: Swedish A2A real-time payment scheme jointly owned by major Nordic banks. It is the most direct European analogue to Wero in terms of bank-led instant payment infrastructure for consumers and merchants.
- Vipps MobilePay: Norwegian/Danish mobile payment app combining Vipps and MobilePay, operated as a bank-owned scheme. It is a directly comparable national A2A wallet that is part of the EuroPA Alliance interoperability hub with Wero.
- Bizum: Spain's dominant instant mobile payment scheme backed by Spanish banks. It is a direct peer in the European A2A landscape and an EuroPA Alliance partner for cross-border interoperability with Wero.
- Bancomat: Italian interbank payment scheme and brand. It is a directly comparable national scheme now part of the EuroPA Alliance interoperability network that Wero is integrating with.
- MB WAY: Portuguese mobile payment solution from SIBS. It is a directly comparable European mobile wallet scheme and an EuroPA Alliance member connecting to Wero's interoperability hub.
- Adyen: European payment processor and Principal Member of EPI. Adyen provides the merchant-side acquiring infrastructure that processes Wero transactions, making it both a competitor (PSP) and a distribution partner.
- Worldpay (Global Payments): Global merchant acquirer integrated as a Principal Member of EPI enabling Wero acceptance. Worldpay is a directly comparable payment processor operating in the same merchant-acquiring and scheme-participation space.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights8 records
Customer concentration
European Payments Initiative social profiles
Digital presenceEuropean Payments Initiative compliance and trust
Trust signalCompliance2 records
European Payments Initiative financial estimates
Financial estimateRevenue estimate
Valuation estimate
European Payments Initiative leadership team
Management profileNumber of profiles
Profiles2 records
European Payments Initiative funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
European Payments Initiative M&A and investment
M&A and investmentM&A2 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about European Payments Initiative
What does European Payments Initiative do?
European Payments Initiative operates the pan-European Wero payment scheme and the Wero digital wallet, enabling instant account-to-account payments between consumers and merchants across participating banks and PSPs. The company supplies the scheme rulebook, brand, and integration infrastructure that member banks use to deliver a unified European payment experience, replacing legacy national schemes with a single harmonized solution built on SEPA Instant Credit Transfer rails.
Is European Payments Initiative a public or private company?
European Payments Initiative is a private company. It is classified as corporate owned and is currently operating.
When was European Payments Initiative founded?
European Payments Initiative was founded in 2020. It employs 11 to 50 people.
Where is European Payments Initiative based?
European Payments Initiative is headquartered in Molenbeek, Belgium, in the Europe region.
How does European Payments Initiative make money?
One revenue line is on record: transaction-based fees on instant payments.
Who are European Payments Initiative's main competitors?
Broad incumbents on record are Visa, Mastercard and PayPal. Direct peers are Swish, Vipps MobilePay, Bizum, Bancomat, MB WAY, Adyen and Worldpay (Global Payments).
Does European Payments Initiative have an API?
No public API is recorded for European Payments Initiative.
What industry is European Payments Initiative in?
European Payments Initiative's product category is Payment Network Infrastructure. Its primary akta.pro industry code is FSAMAFAF, A2A Checkout & Merchant Acceptance Solutions, with a secondary code of FSAMAFAC, Bank-to-Bank Transfers & Pay-by-Bank (Consumer & Merchant). Its NAICS code is 52232.