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