#None #Nuvei #Wero #European Payments Initiative

Nuvei and European Payments Initiative Launch Wero 

Nuvei has taken a significant step forward in the world of eCommerce by launching Wero, a groundbreaking digital wallet developed in collaboration with the European Payments Initiative (EPI). This initiative allows eCommerce merchants across Europe to process transactions instantly and securely.

Wero is designed to facilitate account-to-account (A2A) payments using SEPA Instant Credit Transfer protocols, which means that consumers can make direct payments from their bank accounts in a matter of seconds, eliminating any unnecessary delays. Nuvei is proud to be one of the first payment processors to enable these transactions, showcasing their commitment to advancing payment technology.

Interestingly, Nuvei had already completed initial testing transactions earlier this year. Now, as they roll out Wero broadly, eCommerce merchants can expand their payment options, which is crucial for enhancing customer experience. According to a report by Statista, almost 60% of European shoppers prefer to use their preferred local payment methods. The lack of such options is a critical factor leading to shopping cart abandonment, as indicated by the Baymard Institute.

This challenge of cart abandonment can specifically be linked to the absence of preferred payment methods, affecting over 9% of online shoppers. In fact, Deloitte's research shows that eCommerce merchants offering a diverse range of payment options can boost their conversion rates by as much as 20%, thereby strengthening customer loyalty.

With over 46 million users engaging with Wero across Europe already, the adoption of this digital payment solution is thriving. To date, more than 100 million transactions, totaling over five billion euros, have been facilitated through Wero's platform. Phil Fayer, Chair and CEO of Nuvei, encapsulated the essence of this launch by stating, "Going live with Wero is an exciting example of how Nuvei enables merchants to offer the most relevant payment methods locally. Today's consumers demand speed, flexibility, and security, which Wero consistently provides."

In this initiative, notable support comes from the European Payments Initiative, which comprises 16 European banks and payment service providers. Their collective goal is to establish a unified mobile payment service tailored to all European citizens and businesses. Martina Weimert, EPI's CEO, emphasized that Wero simplifies the payment process while delivering a cost-effective alternative to traditional card payments. She stated that Nuvei plays a vital role in pushing forward the adoption of a truly European payment solution, which is an essential step in enhancing the continent's financial autonomy.

CamperDays, a prominent online campervan rental company, is one of the initial merchants to adopt Wero in its eCommerce checkout process through Nuvei. Max Schmidt, Managing Director of CamperDays, reflected on this partnership, stating, "Our commitment is to simplify and secure the travel booking process. By offering Wero, we provide our customers with a rapid and reliable way to pay directly from their bank accounts, catering to diverse preferences and enhancing their booking experience."

The introduction of Wero marks an ongoing commitment by Nuvei to expand its portfolio of alternative payment methods (APMs). This initiative enables merchants to offer personalized, consumer-preferred payment solutions through a streamlined integration.

About Nuvei

Nuvei is a global payment technology provider that accelerates businesses by enabling next-gen payments encompassing various methods, including local acquiring with over 150 currencies and 720 alternative payment methods. Nuvei's scalable technology connects enterprises to their customers worldwide, fostering success at local and global scales through a singular integration.

For more information, visit the Nuvei website.

About EPI

The European Payments Initiative seeks to unify payment processes within Europe, ensuring ease and efficiency in retail transactions. By supporting local and consumer-preferred payment options, EPI aims to solidify financial independence across European nations.

For further insights on EPI, check their official website.

Conclusion

The launch of Wero is not merely a technological advancement; it symbolizes the future of payments in Europe, where flexibility, security, and consumer satisfaction reign supreme. The robust partnerships and technological innovations underpinning this initiative set a strong foundation for the evolving eCommerce landscape in Europe.