FRANKFURT (dpa-AFX) - Commerzbank is making a U-turn and plans to join the European payment service Wero. The bank's executive board has made the corresponding decision, CEO Bettina Orlopp announced during the presentation of the annual results in Frankfurt. Discussions are currently underway regarding "how and when the introduction can also take place for our customers."
Commerzbank was originally one of the main players in the pan-European payment initiative EPI but had withdrawn in the meantime. The bank's participation is important for Wero's success, as it has around ten million private customers.
The European Payments Initiative (EPI) aims to create a counterweight to American payment providers. Since early July 2024, EPI has been operating with Wero. The payment method is available in several European countries, such as France, Germany, and the Netherlands, and, following the model of US competitor Paypal, mainly offers direct mobile money transfers from person to person.
In the meantime, the service can also be used by numerous merchants for online shopping, similar to credit cards or Apple Pay, Google Pay, Paypal, Klarna, or other comparable services. It was only in December that Deutsche Bank, through its Postbank brand, launched Wero for its customers./stw/als/DP/stk
