Supported by multiple French banks, this new application will allow instant payment and transfers between individuals.
PayLib is dead, long live PayLib? In any case, this is what the EPI Company announces through a press release which presents a new instant payment application on smartphone : Wero. Available from the second half of October 2024, this solution is notably supported by 14 major European banks including several French institutions.
Wero presents itself as an application which aims to replace the traditional PayLib which was until now supported by several French banks. The latter will disappear by early 2025 to make way for Wero, an application that can be downloaded to iPhone or Android smartphone. The majority of French banks will also integrate Wero directly into their dedicated application, with the exception of Banque Postale which will redirect its customers to Wero on the App Store and Google Play Store application stores.
Wero’s primary goal is to put an end to traditional IBAN which, if they were easy to use with their simple sequences of numbers, had several disadvantages (long to remember, slow in payment transfers, easy to make a mistake with a simple incorrectly entered number, etc.). Wero will therefore use an email address or a simple QR code generated directly within your banking application or the dedicated Wero app which will be released in October. Users will only need to flash these QR codes to transfer money.
The EPI Company, responsible for Wero, has already indicated that several features will be added to the application in the months following its deployment, including instant payment on the internet or at local shops. The firm indicates that more than 75% of retail customers of banks in Belgium, France and Germany will be able to access Wero, while emphasizing digital payments.
If the exit of Wero does indeed lead to the end of PayLib, users of Apple Pay on iPhone can rest assured. Questioned by Numerama on the subject, several banks have already assured that they want to keep the Apple Pay option for their customers, particularly because it is a very popular option in France. Wero is therefore targeting dedicated applications like PayPal or Lydia in the hope of replacing them within a few years and establishing itself as the ultimate payment solution for users.