Nuvei to Enable eCommerce Businesses to Accept Wero Digital Wallet
Canadian FinTech company Nuvei has joined the European Payments Initiative (EPI) and plans to enable eCommerce businesses to accept EPI’s digital wallet, Wero, in their online checkouts.
Nuvei will begin pilot programs this month and expects to make this capability generally available for merchants in September, the company said in a Thursday (May 15) press release.
“By integrating Wero into our platform early, we are empowering our merchant partners to capitalize on emerging payment trends and deliver preferred local payment experiences at scale,” Nuvei Chair and CEO Philip Fayer said in the release. “This positions Nuvei uniquely as a leader in supporting European merchants with forward-thinking payment innovations.”
Wero enables users to send money within 10 seconds via mobile numbers, email addresses or QR codes, according to the release.
It enables these instant account-to-account (A2A) transfers using SEPA Instant Credit Transfer protocols, the release said.
Since its initial launch in Germany, France and Belgium in late 2024, Wero has attracted 40 million users, per the release. The digital wallet is set to expand to the Netherlands and Luxembourg and to add enhancements like buy now, pay later (BNPL) and customer loyalty programs.
“Our partnership with Nuvei is a new key step towards Wero’s expansion to the eCommerce sector,” EPI CEO Martina Weimert said in the release. “By making Wero available to Nuvei’s extensive merchant network, we’re accelerating the adoption of a truly European payment solution that enhances financial sovereignty while delivering a seamless, easy and innovative experience for consumers and businesses alike.”
When Wero was launched in September, Weimert said the digital wallet and instant payment solution is backed by 16 of the European Union’s major banks and payment processors and aims to provide consumers with an alternative to Visa and Mastercard.
“Visa and Mastercard being so big, they have in their hands a lot of market control power,” Weimert said at the time.
In an interview with PYMNTS posted in May 2023, before the launch of Wero, Weimert said the lack of a pan-European solution was limiting payment growth in the region and leaving countries without a national payment system out of the equation.
“We are really attached to this vision of a unified, strong, consistent solution because it makes it so much easier, not just for merchants but for individuals as well,” Weimert said.
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