I used Wero for the first time yesterday, and I found it very easy to link to my bank account (just one click on a pop-up). The app is really convenient.
I visited their website and discovered that Wero is currently available in most banks in France, Belgium, and Germany. Their goal is to create a payment system across all of Europe, enabling online payments, in-store payments, or even replacing IBAN transfers.
" Wero is part of the European Payments Initiative (EPI), supported by 14 major European banks and the two largest payment processors in Europe. Our goal is to create a new payment system for Europe, for the future."
I think Wero could replace Visa and Mastercard in our daily payments. I would like to hear your thoughts on this. If you are in France, Belgium, or Germany, you can activate it. Initially, this will support the project, as it is not yet fully functional to replace the payment methods of all European countries.
Reading the site it seems it's just another way to send money by using phone number. So, something that already exists in my country for all banks universally and nowadays a new alternative also came to the table which is SPIN which every bank is also already integrating. At least the branding and the page is cool and modern.
Wero is not just another way to send money using a phone number. Unlike existing national solutions, Wero aims for European interoperability, which many local solutions lack. Most national systems are limited to a single country, while Wero (for now) seeks to unify P2P payments across Europe. In the future, it will allow us to pay in stores and online, with the ultimate goal of eliminating the need for American solutions such as Visa, Mastercard,Stripe, ...
The only thing we don't have is the cross country european interoperability. And if this system does that maybe it will be useful.
If they want to implement that here they will just probably contract or use the local provider that already does all of it.
What I really wish from these systems was to have a handle that is not the phone number, now that would be useful.
I just checked it out and it seems you can have an email instead of a phone number.