Success for Wero: Raiffeisen and Erste join the European Payments Initiative

The centerpiece of the initiative is “Wero”, a unified mobile payment service that provides European companies and citizens with a simple, secure and fast solution for account-to-account payments. Raiffeisen says: Wero makes a “significant contribution to European sovereignty and is the alternative to the digital euro”.

“The European Payments Initiative is an important building block for strong and independent European payment transactions. With our investment in EPI, we are actively participating in the development of a European payment infrastructure and underline our commitment to greater European sovereignty in payment transactions. The initiative shows that the European banking industry can jointly develop innovative solutions that meet the needs of customers. Wero is a modern European payment solution that enables simple, secure and cross-border payments. We want to offer our customers this European alternative and with it “make a contribution to Europe’s digital sovereignty,” says Michael HöllererGeneral Director of Raiffeisenlandesbank Niederösterreich-Wien.

We have a proven track record of providing secure, convenient innovations and freedom of choice for your payment solutions. We continue this philosophy by adding Wero to our services, which has proven to be a compelling and secure solution. As shareholders of EPI, we not only want to offer this solution to our customers, but also actively help shape it, says Gerda Holzinger-BurgstallerCEO of Erste Bank Oesterreich.

Wero should be available to Austrian retail customers of the major banks involved by the beginning of 2028. You can then make retail purchases and send money to other users (P2P payments) with a single app. The app offers strong authentication without having to share sensitive personal data, the banks promise.

Furthermore, it is a completely digital solution without physical cards and is controlled through well-known and trusted banking apps.

The EPI writes: “With a population of around 9 million people, Austria represents a strategic growth market for Wero, supporting its ambition to build a leading pan-European payment solution. The support of Erste Bank Oesterreich and the Raiffeisen banks, Austria’s largest players, serving the majority of Austrian users, will provide a strong foundation for Wero’s market acceptance and future growth.”

“We are pleased to welcome Erste Bank Oesterreich, Raiffeisen Bank International and Raiffeisen Landesbanken as shareholders to EPI. Their commitment reinforces the momentum behind Wero at a time when our European expansion continues to accelerate. With more than 55 million users already and further growth expected through further expansion in Luxembourg, the Netherlands and now Austria, Wero is entering a new phase of growth across Europe. Erste and Raiffeisen Bank’s participation strengthens our mission “to build a resilient and truly pan-European payment network,” says EPI boss Martina Weimert.