Payabl. Joins European Payments Initiative, Bringing Instant A2A Payments to Europe
PayPal, a leading payment service provider, has joined the European Payments Initiative (EPI) as one of its first licensed members. This move grants PayPal direct participation in Wero, EPI's digital wallet, enabling it to facilitate fast, secure account-to-account (A2A) payments across Europe.
Wero, already used by over 43.5 million Europeans, offers swift A2A payments, with clearing times of under 10 seconds, even for cross-border transactions. This makes it the first truly pan-European wallet. PayPal's integration with Wero allows merchants and payment service providers (PSPs) across Europe to offer these instant, secure A2A payments to their customers.
Martina Weimert, CEO of EPI, welcomed PayPal as a key player in driving the momentum behind Wero. Ugne Buraciene, Group CEO of PayPal, sees Wero as the start of a new payments era, where Europe sets the standard for seamless, secure, and inclusive commerce. With 53% of consumers open to switching to new payment methods, driven by speed, convenience, and security, Wero's growth is projected to reshape how businesses and consumers transact. By 2029, A2A payments are expected to grow from 60 billion to 186 billion transactions.
PayPal's integration with Wero opens up new payment possibilities for merchants outside the EU, allowing them to serve European shoppers using their preferred local methods. With Wero's rapid growth and the increasing demand for seamless, secure payment experiences, PayPal is well-positioned to facilitate this new era of commerce.
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