Fintech provider Payabl has joined the European Payments Initiative (EPI) as a licensed member, integrating the group’s new pan-European digital wallet, Wero. The move allows Payabl’s merchant clients to offer account-to-account (A2A) payments across Europe, bypassing traditional card networks.
Wero is built on SEPA Instant payment rails and backed by a consortium of major European banks. As a direct acquirer, Payabl can provide merchants and payment service providers with the ability to process A2A transactions that settle in under 10 seconds. Benefits cited include lower transaction costs than card interchange fees, real-time settlement, and a simplified checkout flow aimed at reducing cart abandonment.
The initiative is positioned as part of Europe’s push for “payment sovereignty,” reducing reliance on international card schemes. Its design mirrors national instant payment systems such as Brazil’s Pix and India’s UPI, which have quickly gained wide adoption. By leveraging SEPA Instant infrastructure, Wero seeks to become a unified European standard.
Adoption by Payabl represents one of the first integrations outside the founding banks and signals the importance of acquirers and payment service providers for building merchant acceptance. Martina Weimert, CEO of EPI, said the partnership will help accelerate access to instant, cross-border A2A payments.
The rollout of Wero comes as consumer preferences shift toward faster and more convenient digital transactions. Payabl cited research showing more than half of European consumers are open to switching payment methods, with speed and convenience as leading motivators. Some industry analysts expect additional PSPs and acquirers to follow Payabl.’s lead to remain competitive, accelerating the network effect needed for Wero to reach scale.
Sources: BusinessWire, The Paypers, EPI
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By the ID Tech Editorial Team
