Belgian banks join EPI to introduce Wero wallet, aiming to compete with Visa and Mastercard.

Five Belgian banks – Argenta, Bank Van Breda, Beobank, Crelan, and vdk bank – announced their participation in the European Payments Initiative. They plan to introduce the EPI’s digital wallet Wero to customers in 2026, aiming to compete with U.S. giants Visa and Mastercard.

The EPI, established by European banks, seeks to challenge the dominance of Visa and Mastercard. However, the initiative has faced challenges in the past with some banks exiting the network.

Bank Van Breda CEO Dirk Wouters highlighted the benefits of integrating Wero into their services, providing clients with a secure and efficient payment solution tailored to their needs. The EPI reported 40 million registered users for the Wero digital wallet in Belgium, France, and Germany.

The collaboration between Belgian banks and the European Payments Initiative marks a significant step in the effort to provide innovative payment solutions and compete with established global players in the financial services industry.

Read more at Yahoo Finance: Belgian banks join European Payments Initiative to expand Wero wallet across Europe