New name, same functionality
For years, consumers in the Netherlands have been able to pay online easily using iDEAL. This is a trusted payment method that allows customers to pay directly via their own bank, for example through a banking app or online banking. The amount is transferred to the recipient immediately.
iDEAL and other national payment methods are gradually being integrated into Wero across Europe, a new European payment platform developed by the European Payments Initiative (EPI). This initiative by European banks and financial institutions is working towards a single, unified solution for multiple European markets.
Wero will gradually combine and integrate several national “iDEAL-like” payment solutions in Europe, including iDEAL (Netherlands), Payconiq (Belgium), Giropay (Germany) and Paylib (France).
What is Wero?
Wero is a new European payment solution that allows consumers to easily send, request, and receive money using, for example, a phone number, without always needing an IBAN. With Wero, customers in multiple European countries can pay in the same way using their own bank.
What does this mean for your business?
Less complexity in payment methods
Instead of different national payment methods per country, there will be one unified payment solution for multiple European markets. This simplifies the management of your checkout and reduces dependence on local payment methods.
One integration via your payment provider (PSP)
Wero is implemented through your existing payment service provider. In most cases, the migration from existing payment methods to Wero is handled by this provider, meaning your technical integration is largely preserved.
Simpler access to European markets
Because Wero will be rolled out across multiple countries, a single recognizable payment standard is emerging for European consumers. This lowers the barrier for international sales and ensures a familiar payment experience across Europe.
Do you need to do anything?
In most cases, no. Your PSP will manage the transition. The implementation of Wero will largely take place behind the scenes. However, it is important to follow updates from your payment provider to respond in time to any changes.
