Published on 27/10/2024

Transferência instantânea, revolução na Europa com a Wero

In our world, innovating payment solutions is a top priority. Over the past few years, we’ve seen a remarkable shift in how people make payments, and now, a unique opportunity is emerging in a thriving area: instant bank transfers. With the launch of Wero in September 2024, Europe’s first wallet, we’re on the brink of a major transformation in the payments landscape.

Instant bank transfers: a game-changer in Europe with Wero’s arrival

Wero: a game-changing European wallet

Wero, developed under the European Payments Initiative (EPI), is set to revolutionise digital payments in Europe. Launched last July in Germany and recently in France, this wallet transforms how consumers and businesses handle transactions. It meets the rising demand for secure, fast, and intermediary-free payment solutions. This trend is poised to take off and alter consumer payment behaviours across Europe.

Wero reflects a significant trend we’ve noticed at recent sector events: the surge in card-free payments made via mobile and without intermediaries. Consumers are increasingly looking for seamless, straightforward, and, above all, secure ways to transact. As experts in payment solutions, we recognise how these evolving expectations are reshaping both business and financial practices.

Why instant bank transfers are on the rise

The Wero wallet is generating significant interest largely because it leverages a rapidly growing payment method: instant bank transfers. This solution has seen explosive growth in France, with an impressive 85% increase in volume¹ and a staggering 135% rise in value¹ over the past year. We believe this momentum will continue to build in the coming months, as the benefits of bank transfers are substantial for both businesses and consumers.

Instant bank transfers offer a compelling alternative to debit and credit cards, particularly regarding security and flexibility. With much higher transaction limits and irrevocability once the payment is made, they provide merchants with peace of mind. We understand how crucial it is to provide solutions that align with merchants’ needs, and bank transfers effectively overcome many of the limitations posed by cards—particularly for high-value transactions.

Open banking²: the key to smarter payments

The evolution of payments goes beyond just speed. Thanks to the PSD2 directive³, open banking² now offers access to smarter, more connected financial services. This presents a fantastic opportunity for businesses to gain a comprehensive view of their clients' financial portfolios, making it easier to assess creditworthiness, reduce fraud risk, and streamline onboarding processes.

With open banking², payments via instant bank transfers become even more seamless. We believe this innovation will empower merchants to deliver more personalised payment experiences, significantly reduce data entry errors (like IBAN mistakes), and eliminate the wait times that come with traditional bank transfers.

A win-win solution for merchants

We understand that for businesses, transaction costs and security are top priorities. That’s where Wero and instant bank transfers come into play. Not only is this solution 35% to 40% cheaper⁴ than credit card transactions, but it also boasts a high level of security, with a fraud rate significantly lower than that of cards (just 0.044%¹).

Moreover, the irrevocability of bank transfers, combined with their instant execution, provides merchants with a sense of peace of mind that they often can’t achieve with other payment methods. This payment option is a strategic lever for building customer loyalty while keeping costs under control.

This is a genuine evolution that’s poised to become a must-have solution in the coming years, both online and in-store. It enables merchants to offer payment methods tailored to their customers’ needs, whether that’s payment in instalments, deferred payments, or other innovative options.

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