Wero payments and the evolution of digital payments in Europe

Digital payments have become a core component of modern digital finance. Across Europe, consumers and businesses rely on instant transfers, digital wallets, and mobile payment standards for everyday transactions, from peer-to-peer payments to digital B2B payments and e-commerce checkout. 

Despite this widespread adoption, the European payments landscape remains fragmented. Most payment standards have evolved at the national or regional level, while cross-border digital payments remain dominated by global card schemes. At the same time, regulatory requirements for finance increasingly shape how payment infrastructure is designed, operated, and scaled across European markets.

Against this backdrop, Wero payments have emerged as one of the most ambitious attempts to rethink payment standards at a European level. In this article, we place Wero in context, comparing it with other major payment standards operating at scale across Europe — including BLIK, TWINT, Bizum, Vipps MobilePay, and Payconiq — to better understand what this diversity means for the future of digital payments.

Wero payments: from pan-European card ambitions to a bank-led digital wallet 

Wero payments are the latest outcome of the European Payments Initiative (EPI), a project launched in 2020 with ambitions that extended well beyond the model currently being rolled out. 

In its original form, EPI aimed to create a fully pan-European payment scheme, including its own card infrastructure and a digital wallet. The goal was to replace fragmented national solutions and reduce Europe’s reliance on global card networks. Over time, however, this vision proved difficult to execute. Several major banks withdrew from the initiative, prompting a reassessment of both scope and execution. 

The current Wero model reflects this strategic pivot. Rather than building new card rails, EPI refocused on instant account-to-account payments delivered through a bank-led digital wallet. This shift was reinforced by the acquisition of established solutions such as iDEAL and Payconiq, which provided operational scale and local market expertise. 

Today, Wero payments are positioned as a shared European payment layer distributed through participating banks. The rollout has prioritised peer-to-peer transfers, with Wero payments for ecommerce and point-of-sale transactions planned for subsequent phases. Wero operates both as a stand-alone app and through integration with participating banks’ mobile apps.

Key figures (2024) 

• Users / reach: ~45–50 million bank customers (potential reach) via participating banks; this figure reflects distribution reach rather than active usage
• Transactions: not publicly reported as a standalone annual transaction count

When communicating its scale, Wero payments primarily refer to potential reach rather than day-to-day usage. The figure most often cited by EPI represents the combined customer base of participating banks that can access Wero through their banking channels. This approach is typical for initiatives at an early rollout stage, where distribution precedes mass consumer adoption. 

Market maturity and limitations 
Compared with established national and regional standards, Wero payments are still at an early stage of market maturity. While the initiative benefits from strong bank backing and a clear strategic narrative around European payment sovereignty, measurable usage data remains limited. 

For now, adoption is concentrated around peer-to-peer transfers. Broader relevance will depend on merchant acceptance and consistent uptake across multiple markets. As such, Wero is best understood as a developing infrastructure layer rather than a fully mature digital payment standard.

BLIK: a nationally embedded digital payments ecosystem 

BLIK is one of Europe’s clearest examples of a nationally developed digital payment standard achieving mass adoption. Launched in 2015 as a joint initiative of Polish banks and coordinated by the Polish Payment Standard, it was designed to operate independently of international card schemes while remaining tightly integrated with domestic banking infrastructure. In practice, BLIK is accessed exclusively through banks’ mobile apps.

Its rapid growth was supported by favourable market conditions, including high mobile banking penetration and a relatively concentrated banking sector. This made coordination between institutions easier and helped establish BLIK as a shared national standard early on. 

Over time, BLIK evolved from a simple one-time code mechanism into a comprehensive digital payments layer. It now supports peer-to-peer transfers, e-commerce payments, ATM withdrawals and deposits, and in-store transactions. Continuous development of features such as recurring payments and one-click checkout has reinforced its role as a default payment method for everyday use. 

Key figures (2024) 

• Users: 18.5 million active users 
• Transactions: 2.4 billion transactions 

Market maturity and limitations 
BLIK is a highly mature national standard with proven scale. Its strength lies in deep domestic adoption, while cross-border expansion remains secondary to its core model.

TWINT: everyday digital payments through a cohesive national model 

TWINT was developed to offer a Swiss alternative to international payment providers. Backed by major Swiss banks, it operates as a national digital wallet supporting peer-to-peer payments, online purchases, and in-store transactions. The service is primarily accessed through a stand-alone mobile app, without a typical integration into banks’ mobile applications.

The platform places strong emphasis on everyday usability. QR-based payments, seamless bank integration, and broad merchant acceptance have made TWINT a familiar and frequently used payment method across retail, hospitality, and services. 

TWINT operates within a clearly defined national framework. Banks play a central role in distribution and trust-building, while merchants benefit from consistent consumer recognition. Despite its limited geographic scope, TWINT has achieved adoption levels comparable to those seen in much larger markets. 

Key figures (2024) 

• Users: over 5 million users 
• Transactions: 773 million transactions 

Market maturity and limitations 
TWINT is a mature and stable national standard. Its primary limitation is geographic, as it is not designed for cross-border digital payments. 

Bizum: local dominance with cautious cross-border expansion 

Bizum was launched in 2016 as a collaborative initiative of Spanish banks, with the aim of simplifying instant peer-to-peer payments. Integration directly into mobile banking applications and the use of phone numbers as payment identifiers significantly reduced friction for users and supported rapid adoption. 

As its user base expanded, Bizum gradually moved beyond P2P transfers to support e-commerce payments and additional digital payment scenarios. This evolution was enabled by high mobile banking usage in Spain and strong coordination across the banking sector. 

Only after reaching a significant domestic scale did Bizum begin exploring cross-border functionality. Rather than direct market entry, this expansion has focused on interoperability initiatives, reflecting a cautious and partnership-based growth strategy. 

Key figures (2024) 

• Users: 27.6 million users 
• Transactions: over 1 billion transactions (3 million transactions daily on average) 

Market maturity and limitations 
Bizum is a mature national standard with limited but growing cross-border functionality, prioritising interoperability over standalone expansion. 

Vipps MobilePay: regional consolidation at scale 

Vipps and MobilePay originated as separate national payment solutions in Norway and Denmark, each developed with strong backing from domestic banks. Their consolidation into a shared platform – Vipps MobilePay – represents one of the most advanced examples of regional alignment in European digital payments. 

The merger was driven by practical considerations. Nordic markets share high digital literacy, similar consumer behaviour, and comparable banking structures, making harmonisation feasible. Consolidation enabled pooled resources, faster development, and a broader range of supported use cases. 

Today, the unified platform, operating as a stand-alone app, supports peer-to-peer payments, e-commerce transactions, and in-store payments across multiple countries, offering regional scale without the complexity of pan-European coordination. 

Key figures (2024) 

• Users: over 12 million users 
• Transactions: 1.52 billion transactions 

Market maturity and limitations 
Vipps MobilePay is well established in the Nordic region. Expansion beyond that region depends primarily on interoperability rather than direct market entry. 

Payconiq: from a local mobile standard to the Bancontact and Wero ecosystem 

For many years, Payconiq served as a reference point for fast and secure mobile payments in Belgium, supporting peer-to-peer transfers and merchant payments through a widely adopted QR-code model. Its strong merchant acceptance and everyday usability made it a core element of the Belgian payments landscape. 

This position is now evolving. Following the launch of Wero by the European Payments Initiative (EPI) in 2024, Bancontact Payconiq Company decided to align its mobile payments strategy with both Bancontact and Wero. As a result, Payconiq payments are being phased out in favour of Bancontact and Wero payments, while the mobile app continues under the Bancontact umbrella. Under this model, the solution remains available both as a stand-alone app and via mobile banking integrations.

From March 2026, the Payconiq by Bancontact app will be renamed Bancontact Pay, and the Payconiq brand will be retired as part of a broader consolidation. All consumer and merchant services will operate within a single Bancontact universe, while core functionalities and access via Belgian banks remain unchanged. 

Key figures (2024) 

• Users: not publicly disclosed in a comparable form 
• Transactions: 2.5 billion payments (Bancontact and Payconiq combined), including 471 million mobile payments 

Market maturity and limitations 
Payconiq’s transition reflects a broader European trend: strong local payment ecosystems increasingly integrate with larger initiatives rather than expanding independently. While Payconiq itself is being absorbed into the Bancontact and Wero framework, its high transaction volumes underline the continued importance of locally embedded payment behaviour, even as interoperability gains prominence.

Digital transformation in financial services

See how we can support you

See how we can support you

Comparing European payment standards 

Viewed together, these standards reveal fundamentally different approaches to how digital payments evolve in Europe. Some prioritise deep national adoption, others focus on regional consolidation, while Wero payments aim to address fragmentation at a pan-European level.

Access models also differ across standards: Wero, TWINT, Vipps MobilePay, and Payconiq are available via stand-alone mobile applications, while BLIK and Bizum are accessed exclusively through banks’ mobile banking apps. These differences influence distribution, as well as the balance between payment security and user experience.

These differences shape not only scale, but also adoption speed and transparency. 

• Wero payments prioritise pan-European reach from the outset, with strong bank backing and distribution-led scale. 
• BLIK and TWINT show how deep national integration can drive high transaction volumes without cross-border expansion. 
• Bizum combines domestic dominance with a cautious, interoperability-first model. 
• Vipps MobilePay demonstrates how regional consolidation can deliver scale efficiently. 
• Payconiq illustrates how strong local ecosystems can transition into broader frameworks, maintaining high transaction volumes while shifting towards interoperability.

Comparative overview of European payment standards (2024)

Taken together, the table provides a factual snapshot, while the patterns behind it explain why Europe continues to favour multiple coexisting payment models rather than a single standard.

What does this mean for the future of digital payments in Europe

The European digital payments landscape is unlikely to converge around a single standard in the near future. Instead, it will continue to be shaped by a mix of national, regional, and pan-European initiatives, each responding to different market realities. 

Wero payments represent a meaningful attempt to reduce fragmentation at scale, but their long-term impact will depend on adoption rather than ambition alone. At the same time, established payment standards continue to show that local relevance, trust, and everyday usability remain decisive. 

For banks, fintech players, digital payments brokers, and merchants, the next phase of digital payments in Europe is likely to be defined less by replacing existing solutions and more by transforming legacy banking systems and connecting them. Interoperability, rather than uniformity, appears to be the key factor shaping how digital finance evolves. 

These developments intersect with broader digital transformation efforts, including system integration, regulatory requirements, and long-term scalability, which will influence how value is exchanged in Europe over the coming years.