(Reuters) -Five Belgian banks – Argenta, Bank Van Breda, Beobank, Crelan and vdk bank – stated on Monday that they were joining the European Payments Initiative and that they would roll out the EPI’s digital wallet Wero to their customers next year.
WHY IT’S IMPORTANT:
The EPI was set up by European banks in a bid to rival the dominance of U.S. companies Visa and Mastercard.
EPI has been hit in the past by some other banks leaving its network.
KEY QUOTES:
“By integrating Wero into our offering from 2026, we will empower our clients – entrepreneurs and liberal professions – with a rapid, secure, and intuitive way to manage their payments which is fully aligned with their daily necessarys,” stated Bank Van Breda CEO Dirk Wouters.
BY THE NUMBERS:
According to the EPI, the Wero digital wallet it launched last year already has 40 million registered utilizers across Belgium, France, and Germany.
(Reporting by Sudip Kar-Gupta; Editing by Hugh Lawson)
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