Raiffeisen Bank International (RBI) has reportedly become a member of the European Payments Initiative (EPI) and acts now as an Acceptor Payment Service Provider (PSP). This latest step reinforces RBI’s commitment to contributing to a “unified and sovereign” payment ecosystem across Europe.
Supported by 14 European banks and two payment service acquirers, EPI launched Wero, a mobile payment “service aimed to be offered to all European companies and citizens.”
It offers a simple account-to-account payment solution designed to streamline payments for consumers and merchants.
By joining EPI as an Acceptor PSP, RBI will enable merchants within its network to take Wero payments, facilitating transactions across channels, including “e-commerce and soon also point-of-sale transactions.”
Martina Weimert, CEO of EPI, commented that they welcome Raiffeisen Bank International to the EPI community.
Weimert added that their participation as an Acceptor PSP is a significant milestone in expanding Wero’s acceptance network, especially “as RBI is the first scheme member headquartered outside of EPI’s initial launch market, in the upcoming months.”
They also mentioned that together, they are committed to providing consumers and businesses with a payment solution “that simplifies everyday transactions and enhances European financial autonomy.”
Matthias Dekan, Head of Payments & Daily Banking at RBI, stated that joining the European Payments Initiative as an Acceptor PSP marks an important chapter in their “journey to foster a truly European payment solution.”
Dekan added that this partnership underscores their dedication to innovation and to supporting the needs of the European market.
They look forward to “growing the Wero presence in Europe together with EPI.”
As noted in the update, EPI (or European Payments Initiative) is supported by 16 European banking institutions and PSPs.
They have teamed up with a common goal / objective : to offer a unified mobile payment service, to all European companies and citizens, Wero. EPI intends to enable European consumers and merchants and “to carry out all types of retail transactions simply, via a resolutely sovereign digital wallet.”
Based on instant account-to-account (A2A) payments, Wero further streamlines payments in Europe by “eliminating intermediaries in the payment chain and the associated additional costs.”
Wero supports payments between individuals, and will also unveil payments to professionals (P2Pro) and those “for online and mobile purchases.”
Point-of-sale payments will reportedly be supported, as well as value-added services “such as merchant loyalty programs and recurring subscription management.”