Report to Society 2024

Social

Consumers and digitalisation

Wero: Innovation and consumer protection “made in Europe”

There are many electronic payment systems – but what about data protection and consumer protection in the European single market? Many providers use infrastructures outside Europe, where these standards are sometimes less strict. This can be disadvantageous for consumers.

This is where the European Payments Initiative (EPI) comes in with Wero – a digital payment method developed by 16 leading financial service providers from Germany, France, Belgium and the Netherlands, including the Savings Bank Finance Group. The aim is a standardised European payment procedure with a reliable infrastructure – by Europeans for Europe. Development and operation take place in the EU – this creates trust and strengthens European values such as data protection and freedom of choice.

Real-time payments without third-party providers

Wero makes it possible to send money from mobile phone to mobile phone in real time – directly from account to account, without detours via third-party providers. The payment takes less than ten seconds. The service is not only easy to use for savings bank customers: no additional app, Wero runs directly via the savings bank app in the “Send money” or “Use Wero” section. Other banks also use Wero’s own app for those who want to separate payment and banking transactions. In both cases, all you need to do is enter a telephone number or e-mail address – you do not need to enter an IBAN.

In addition to private payments (P2P), Wero can already be used for payments to solo self-employed people – for example in the neighbourhood or at the flea market. In future, Wero will also be able to be used in online retail (e- and m-commerce) and, in the long term, at the checkout in shops.

The special advantage: data protection and security at the highest level. Wero does not use data-processing third parties – this strengthens users’ self-determination. Over43 million Europeans (as of May 2025) have already opted for Wero.

17.9 million
Sparkasse app users can access Wero for fast and secure payments