payabl. Joins European Payments Initiative, Expanding Wero's Reach
PayPal has joined the European Payments Initiative (EPI) as one of the first licensed members, directly participating in Wero, EPI's digital wallet used by over 43.5 million Europeans. This move comes as research shows a growing consumer preference for new payment methods, driving the projected growth of account-to-account (A2A) payments.
PayPal, as a direct acquirer, enables merchants and payment service providers (PSPs) across Europe to offer instant, secure A2A payments through Wero. Built on SEPA Instant, Wero ensures payments clearing in under 10 seconds, including cross-border transactions, providing a lower-cost alternative to cards and reducing cart abandonment.
Martina Weimert, CEO of EPI, welcomed PayPal's integration, highlighting the strong momentum behind Wero and the acceleration of access to instant, secure A2A payments across borders. PayPal's Group CEO, Ugne Buraciene, sees Wero as the start of a new payments era, where Europe sets the benchmark for seamless, secure, and inclusive commerce. Already, merchants outside the EU and the UK, such as Canadian fintech company Nuvei and the fintech provider PayPal, have integrated with Wero, facilitating A2A transactions across Europe and beyond.
With PayPal's integration, Wero continues to expand its reach, offering merchants a new way to provide instant, secure A2A payments that customers can trust. As A2A payments grow, Europe has the opportunity to establish its own scalable alternative with Wero, following the global trend set by initiatives like Brazil's Pix and India's UPI.
