Payments between individuals: WERO mobile solution launched by French banks

The European instant payment solution WERO has just launched in France, gradually replacing Paylib as a single instant payment solution.

WERO is currently being deployed in banks, and will initially allow instant transfers between individuals. Then online payments and local payments.

WERO is a mobile application, either customized using the WERO app, or from mobile applications of WERO compatible banks.

Weru: What is this?

Wero is The pan-European mobile payment solution is available on iOS or Android smartphones.

It was launched in 2024 by the European company European Payments Initiative (EPI, whose capital is owned by about fifteen European banks), this solution is initially available in Germany and Belgium, and since the beginning of October in France with major French banks. Luxembourg and the Netherlands will soon follow.

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WERO will allow individuals to make three types of payment:

• From 2024, Instant money transfers (about 10 seconds) from account to account for individuals and account holders in WERO compliant banks (French and European),
• In 2025, Payments at small merchantsThen in 2025, paying online on merchant websites and managing recurring payments associated with subscriptions,
• In 2026, Payment at points of sale at major merchants. Other services such as installment payment, merchant loyalty programs and expense sharing are also planned.

Wiro: How does it work?

WERO can be used either on the mobile app of WERO-compatible banks, or on the WERO app, which has been accessible since September 2024.

To use WERO, you must:

• Download the application (dedicated or banking)
• Choose the bank account to be paid with
• Enter the amount,
• Choose the recipient of the instant payment by selecting (only those registered with WERO or the Paylib solution among friends are visible):
  • Whether his mobile phone number
  • Or his email address.
• Check the recipient's name again
• Verify the authenticity of the transmission with your bank's strong authentication.

The declared transfer time between the two accounts is 10 seconds.

WERO deployment schedule in large banking groups

Here it is WERO publishing schedule In French banks:

BNP Paribas
From October 24, 2024

BBC Group
From September 2 to October 2, 2024

Credit Agricole
September 26, 2024

Credit Mutuel Alliance Federal
From September 25 to November 6, 2024

Credit Mutuel Arkia
January 2025

Postal Bank
October 28, 2024

Société Générale
From October 24, 2024

What are WERO's goals?

The European-wide launch of the WERO mobile payment solution seeks to achieve several objectives:

Wiro for individuals

• Gradually replacing the Paylib payment wallet which is in the process of transitioning to WERO, before Paylib is permanently shut down at the beginning of 2025,
• Providing an instant cross-border payment service between individuals and gradually with merchants, whose bank accounts are compatible with WERO,
• Offer the app an instant mobile payment solution and tools to monitor and control your personal finances.

WERO to partner banks

• SEPA Instant Transfer, launched in 2017, is complemented by a mobile payment solution
• Development at Eurozone level, as a sovereign payment alternative for all consumers to major international payment networks such as Visa, Mastercard and GAFAM (Paypal, ApplePay, GooglePay), which are non-European.