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Nuvei and the European Payments Initiative Launch Wero Payments for European Online Merchants

In a groundbreaking move for the online payment landscape in Europe, Nuvei has officially announced that its network of online merchants can now process transactions via Wero, a cutting-edge digital wallet powered by the European Payments Initiative (EPI). This innovative payment solution is designed to facilitate instantaneous and secure account-to-account transactions across member states, thereby transforming the way consumers engage in online commerce.

This venture marks a significant milestone for Nuvei, which was among the first payment processors to execute a Wero transaction in a testing environment earlier this year. Now, it stands as one of the pioneering platforms to enable merchant transactions through this efficient payment method. Wero's unique selling proposition lies in its ability to facilitate account-to-account (A2A) payments using SEPA instant transfer protocols, allowing consumers to make purchases directly from their bank accounts within seconds.

For merchants, the addition of Wero not only enhances customer choice at checkout but also reduces transaction processing costs and expedites settlement times. Such improvements could lead to heightened conversion rates and improved cash flow for businesses. Recent studies underscore this connection; findings from Statista reveal that nearly 60% of European consumers are more likely to complete an online purchase if their preferred payment method is available. Moreover, the Baymard Institute has identified lack of preferred payment options as a major factor in cart abandonment, affecting more than 9% of buyers. Deloitte's research additionally suggests that merchants offering a broader array of payment options could see conversion rate increases of up to 20%, along with enhanced customer loyalty.

With an impressive user base of over 46 million in Europe, Wero is already establishing itself as a leading payment option in the region. So far, the digital wallet has processed over 100 million person-to-person transactions, accumulating a total value exceeding five billion euros.

Phil Fayer, chairman and CEO of Nuvei, commented:

“The launch of Wero is yet another instance of how Nuvei empowers merchants to deliver relevant and advanced payment methods locally through a streamlined integration. Today's consumers expect payment approaches that are flexible, fast, and secure, and Wero successfully meets those expectations. We take pride in helping European merchants like CamperDays drive more sales and build trust with their customers.”

Martina Weimert, CEO of EPI, added to this sentiment, stating:

“Integrating Wero into e-commerce payments via Nuvei marks a significant leap forward for payments in Europe. Wero simplifies the consumer payment experience while providing merchants an economical alternative to traditional card payments. Nuvei will play a critical role in advancing the adoption of a truly European payment solution, reinforcing the continent's financial sovereignty. We look forward to this collaboration.”

Among the first companies to accept Wero for online payments through Nuvei is CamperDays, a leading platform for camper rentals. Max Schmidt, the managing director, expressed:

“At CamperDays, we aim to enhance and secure the booking experience for our customers to the utmost. By incorporating Wero as a payment option through Nuvei, we provide our clients with a quick and reliable means to pay directly from their bank accounts. Offering more payment choices helps us meet diverse preferences and deliver the best possible booking experience.”

This launch is part of Nuvei's ongoing expansion of alternative payment methods (APM) designed to furnish merchants with localized experiences preferred by consumers via a single integration.

About the EPI

The European Payments Initiative (EPI), backed by 16 European banks and payment service providers, has united in a common goal to offer a unified mobile payment service accessible to all organizations and citizens throughout Europe. Through the Wero framework, EPI aims to enable European consumers and merchants to perform all types of retail transactions effortlessly using a distinctly sovereign digital wallet.

For more information, visit epicompany.eu.

About Wero

Wero leverages account-to-account (A2A) instant payments to further simplify transactions across Europe, eliminating intermediaries and associated costs in the payment chain. Beyond supporting person-to-person payments, Wero is set to roll out additional features, including payments for business-to-business transactions (P2Pro) and options for online and mobile purchases. Point-of-sale payments and value-added services such as merchant loyalty programs will also be on the horizon.

Learn more at wero-wallet.eu.

About Nuvei

Nuvei is focused on accelerating its clients' operations worldwide. Its modular and flexible technology enables businesses to accept next-generation payments, provide comprehensive payment solutions, and access card issuance services, banking services, and risk and fraud management. Connecting organizations with customers in over 200 markets, Nuvei facilitates local acquisition in 50 markets across 150 currencies and 720 alternative payment methods, supplying the technology and insights necessary for clients and partners to succeed both locally and globally through a single integration.

To discover more, visit nuvei.com.