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New payment system Wero: First retailers opt for PayPal alternative
PayPal, Visa, and others are facing competition: With Wero, Europe wants to launch its own payment service. The first retailers in Germany are already on board—but the question remains: Do customers even want to switch?
The Wero payment project, led by the EPI (European Payments Initiative) banking alliance, is picking up speed. The digital payment system is in direct competition with services such as PayPal, Apple Pay, and Klarna.
The Wero system is based on SEPA real-time payments, which means payments can be sent in a matter of seconds. The aim is to create a Europe-wide alternative to American payment services.
According to Lebensmittel Zeitung, the first German retailers want to integrate the new payment option into their online shops as early as October. “Preparations are underway, and the integration will take place step by step,” says EPI CEO Martina Weimert.
Mediamarkt and Co. want to test Wero
Mediamarkt-Saturn is one of the first major players to want to use Wero. However, there is no exact start date yet. According to industry circles, Otto and Rossmann are also taking a close look at the project.
The focus on a payment system like Wero is no coincidence: PayPal, Mastercard, and Visa have a firm grip on the market. Added to this are geopolitical tensions, which are reinforcing the desire for a European solution. “Developments in recent months show how important it is to have our own European solution in times of transatlantic tensions,” says Weimert in an interview with Lebensmittel Zeitung.
PayPal alternative Wero: Do people really want to switch?
Acceptance remains a sticking point. According to a study by the EHI Institute, many retailers fear that it will be difficult to lure customers away from established systems. “Customers need good reasons to switch from established systems to a new one,” warns Horst Rüter, payment transactions expert at EHI.
In any case, Weros’ plans go beyond online retail: starting in 2026, customers will also be able to pay at supermarket checkouts using QR codes or NFC, directly via an app on their smartphones.
According to Bavarian broadcaster Bayerischer Rundfunk, around 1.8 million people in Germany have registered for Wero so far, with 43 million across Europe. The payment service is particularly widespread in France and Belgium.
Germany, France, and Belgium are currently the only countries offering Wero, but other countries are set to follow.
Source: watson.de Translated with deepl
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Yes we do. Simple.
Mastercard and Visa fees are fucked. Paypal holds onto money that’s not theirs and Klarna is just preying on young adults shopping addictions for lifelong credit customers.
Wero with QR codes that we don’t need Google Pay or Apple Pay for would be amazing.
The aim is to create a Europe-wide alternative to American payment Services.
So they’ll offer an app that’s also independent from Apple and Google right?
Right?
In some ways… but they use american cloud infrastructure 🫣
In what ways? So far I could use it via my bank’s app which requires google play.
Somebody mentioned that all their servers a hosted by American companies (Amazon/Google/Microsoft?). I cannot find the post or any source right now. If it is legit I’m sure it will pop up again.
I’ve already activated Wero with my Revolt account. Three clicks and I was done.
Now I’m waiting for places where I can use it
I‘m also waiting for retailers… but those starting ain’t interesting for me 😂
I did notice several of my contacts have Wero active already.
Guess it needs some time. But I’ve got patience
Ok, so it’s linked to your bank account directly. You can only use it if your bank has integration. Looks like countries that already have payment systems are not eager to join. So far mostly countries that didn’t create any solutions so far are signing up. Hopefully with time others will join.
Please work out compatibility with Twint ASAP, there is no need to create competing systems within Europe and make shopping across borders more complicated.
Twint is Swiss though, they have some phobia of EU-wide things.
Absolutely not true, when it’s about money we love everyone.
And we love spending money in Germany, France and Italy - so it’s in the EU’s best interest to include us.
The main reason I use PayPal is the buyer protection, adding a very good level of insurance at no cost when shopping online. I used it effectively a couple of times and it doesn’t look like Wero could offer something on this line.
Would be eager to adopt it, but I’m not at the cost of losing functionality/features!
*Edit to add that the wide support for Apple Pay makes Wero even less compelling. Europe never got on the digital train and even new services and apps will never offer the integration=QoL that native systems give. The US was at the forefront, now look at China with integrated ecosystems including cars
The main reason I use PayPal is the buyer protection, adding a very good level of insurance at no cost when shopping online.
Only with the hidden costs of paying with your data.
That cost is implicit with any digital paying system.
