Europe intensifies its drive for payments sovereignty as the European Payments Initiative (EPI) develops Wero, a homegrown digital wallet backed by major banks, including BNP Paribas, aiming to reduce reliance on non‑European payment providers and strengthen control over transaction data.

This article outlines how Wero is positioned as the backbone of a unified European payments ecosystem, designed to support instant payments, e‑commerce, and everyday transactions across borders. EPI CEO Martina Weimert stresses that payments infrastructure is too strategically important to depend on international card schemes and Big Tech wallets, especially given the economic and strategic value of transaction data. With European banks collaborating on a shared platform, Wero represents a significant step toward reclaiming autonomy over the continent’s financial plumbing and ensuring that the data generated by European consumers remains governed within Europe.

Martina Weimert, CEO, EPI Company:

“Payments are the underlying part of commerce. Without payments, we don’t have commerce. It’s essential for the economy, and it’s even more important if we consider the value of the data attached to each transaction.”

Read the entire Treasury Management International article in the pdf below: