Introduction
A bank-backed enterprise established to produce a competitor to Mastercard and Visa in Europe, the European Payments Initiative (EPI), has successfully completed its first e-commerce transactions, clearing the way for a full-scale roll out later this year. The EPI was initially constructed to compete with Mastercard and Visa in Europe. The Proof-of-Concept transactions were carried out on the online store of the German football club FC Kaiserslautern between the end of November and the middle of December. A seamless integration of the EPI’s Wero wallet into the merchant’s online platform and its acquiring partner, VR Payments, and the end-customers’ online banking app, was required for this arrangement to be successful.
Before the formal launch begins in Germany over the summer, additional tests will be carried out throughout the first part of the year. Additional testing will be done.After that, France will arrive at the beginning of 2026, and Belgium will follow in the fall. According to the EPI, the e-commerce module will cover conventional payment use cases such as one-time payments and refunds, and it will gradually include more complex payment models as time goes on.
Following the debut of its peer-to-peer wallet, the EPI announced in November that it has successfully completed eight million transactions and enrolled fourteen million users since its inaugural event. BNPL, merchant loyalty, program integration, and expense sharing are some additional capabilities that will be implemented in 2026. Additionally, in-store payments at the cash register will be added along with these capabilities
Industry Comments
Martina Weimert, CEO, European Payments Initiative, comments: “This POC is another key step towards our retail market entry into commercial payments. The aim was to prove our solution is working well end-to-end and is as simple, secure, and effective as we’ve been advocating for. Now we are entering the next phase and preparing for the broad introduction in the coming months.”
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FAQs
1. What is the European Payments Initiative (EPI)?
The European Payments Initiative (EPI) is a venture backed by European banks to create a unified payment solution that competes with global giants like Mastercard and Visa. EPI offers secure and seamless digital payment options for e-commerce, in-store payments, and peer-to-peer transfers. It features the Wero wallet, which is integrated into online banking apps, enabling fast and smooth transactions. Starting with e-commerce, EPI plans to expand its services to include Buy Now, Pay Later (BNPL), loyalty programs, and more by 2026.
2. How does the EPI’s e-commerce module work?
The EPI e-commerce module enables users to make payments using its Wero wallet. This wallet is integrated into online banking apps and merchant platforms, ensuring quick and secure payments. Recently, successful proof-of-concept transactions were completed on a German football club’s online store. The module supports standard payment processes like one-off payments and refunds. Over time, it will incorporate more advanced features. The rollout begins in Germany in mid-2025, followed by Belgium and France in late 2025 and early 2026, respectively.
3. What features will the EPI offer in the future?
EPI aims to become a comprehensive payment solution. Beyond e-commerce, it will introduce in-store payments, peer-to-peer transfers, BNPL options, and expense-sharing tools by 2026. Additionally, EPI plans to integrate merchant loyalty programs to enhance user engagement and shopping experiences. The initiative is focused on ensuring security, convenience, and wide accessibility for customers across Europe. With millions of users already enrolled and millions of transactions processed, EPI is on track to revolutionize how payments are made within Europe.
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Conclusion
The European Payments Initiative (EPI) represents a significant step forward in Europe’s quest for a unified and independent payment system. By offering a secure, seamless, and user-friendly payment platform, EPI is set to challenge established players like Mastercard and Visa. Its successful proof-of-concept transactions demonstrate its potential to enhance e-commerce experiences. With plans for a phased rollout in Germany, Belgium, and France, and the inclusion of features like BNPL, loyalty programs, and in-store payments, EPI promises to provide a holistic payment ecosystem. As it expands, EPI could reshape how Europeans conduct digital and physical transactions, fostering innovation and independence in the financial sector.
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