US credit card companies Visa and Mastercard have hundreds of millions of users in the European Union.But as European governments rethink their dependence on...
From what I read banks from other countries aren’t interested in Wero and it’s understandable. For example Spanish banks invested a lot of money into Bizum which they control. Why would they now implement Wero which does the same thing but is controlled by French and German banks? It makes no sense. That was the reason for the initial split between EPI and EuroPA and current agreements only confirm it. They will integrate with Wero but will not put it in their apps directly.
They’re different products, Wero offers features Bizum does not. Ultimately Wero is a product banks can make more money off of so they’re likely to invest eventually. But atm Wero is unproven in the actual market, so it remains to be seen how well it will catch on. That’s why these banks don’t want to make the switch immediately, and prefer this expansion route first. If the consumer demand is there, the banks will follow.
From what I read banks from other countries aren’t interested in Wero and it’s understandable. For example Spanish banks invested a lot of money into Bizum which they control. Why would they now implement Wero which does the same thing but is controlled by French and German banks? It makes no sense. That was the reason for the initial split between EPI and EuroPA and current agreements only confirm it. They will integrate with Wero but will not put it in their apps directly.
They’re different products, Wero offers features Bizum does not. Ultimately Wero is a product banks can make more money off of so they’re likely to invest eventually. But atm Wero is unproven in the actual market, so it remains to be seen how well it will catch on. That’s why these banks don’t want to make the switch immediately, and prefer this expansion route first. If the consumer demand is there, the banks will follow.