European digital wallet
The European Central Bank (ECB) has been warning for some time that reliance on foreign card networks leaves Europe vulnerable to political pressure or sudden disruption.
Wero (EPI – European Payments Initiative) is a major private initiative backed by a consortium of 16 leading European banks and payment systems.
Wero functions as a digital wallet that allows instant transfers between bank accounts (account-to-account) in seconds. It has already launched in Germany, France and, covering more than 48 million users.
For now, the key step is to move from national solutions (like Paylib in France or iDEAL in the Netherlands) to a unified Wero structure, which should become a full-fledged alternative to cards by 2027.
In 2026, there are plans to expand the service to the Netherlands (replacing iDEAL) and other countries, as well as the introduction of payment at retail stores (POS) and the integration of “buy now, pay later” (BNPL) functions.
Now the European market is fragmented (local systems like iDEAL or TWINT do not work outside their countries), Wero is designed to create a single standard.
Digital Euro
The introduction of the digital euro (Digital Euro) is being considered centrally and is a government project of the European Central Bank (ECB). The ECB is continuing development with a focus on launching a fully-fledged digital currency by 2027-2029. The goal is to provide a pan-European means of payment, independent of foreign interests and operating both online and offline with minimal fees for citizens.
In May 2026, the project is at the stage of technical preparation and legislative approval in the European Parliament. The first pilot transactions are expected in 2027, and the full-fledged issuance of the first digital currency is scheduled for 2029.
