FinTech Revolut has signed an agreement to join the European Payments Initiative (EPI) in an effort to promote the creation of a European sovereign payments system.

EPI is supported by 16 major European banks and payment providers, with the aim of providing a unified digital wallet for European consumers. The partnership will bring EPI's flagship digital payment wallet Wero directly into the Revolut app for users in France, Belgium and Germany.

The product aims to further simplify payments in Europe by eliminating intermediaries in the payment chain and the associated additional costs. Based on instant account-to-account (A2A) payments, Wero allows users to send and receive money between bank accounts in less than 10 seconds, using only a phone number, without the need for an IBAN.

The product, which was launched in 2024 and currently has more than 40 million registered users, already supports payments between individuals and will soon introduce payments to businesses (P2Pro) and payments for online and mobile purchases, EPI said.

As part of this membership, Revolut customers, initially in France, Belgium and Germany, will have access to Wero's core functions directly within their Revolut app, including instant and free money transfers using Wero's platform.

Wero plans to introduce additional features in the second half of 2025, including support for e-commerce transactions, followed by in-store payments, subscription management and loyalty programmes in 2026.

David Tirado, vice president of global business at Revolut, emphasised that the partnership underlines the FinTech's commitment to providing value to European customers seeking simpler payment processes integrated with their daily banking.

"By enabling Wero within the Revolut app, alongside our other local peer-to-peer payment partners, we're empowering our customers to make instant and secure payments seamlessly within European borders, in the most suitable way for them," he added.

Martina Weimert, chief executive of the EPI Company, commented on Revolut's membership agreement: "Revolut's extensive footprint and their commitment to innovation make them a valuable partner in our shared mission."

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