Wero, the European instant account-to-account payment solution backed by the European Payments Initiative, is expanding into Austria after two major Austrian banking groups joined EPI as shareholders.
Erste Bank Oesterreich and Raiffeisen have become investors in the European Payments Initiative, supporting the rollout of Wero in Austria as the payment network continues its push to build a stronger pan-European alternative for digital payments.
Austria Becomes a Strategic Market for Wero
The European Payments Initiative has identified Austria as a key growth market for Wero. With a population of around nine million people and a mature banking sector, Austria represents an important next step in EPI’s plan to expand instant payments across Europe.
Wero already operates in Belgium, France, and Germany. The service, which launched in 2024, has grown quickly and now reaches more than 55 million customers across Europe.
Alongside Austria, Wero is also extending into Luxembourg and the Netherlands, further expanding its footprint across the region.
Erste Bank and Raiffeisen Strengthen EPI’s Shareholder Base
The participation of Erste Bank Oesterreich and Raiffeisen gives EPI stronger backing in Austria and adds further momentum to Wero’s European expansion.
Within the Raiffeisen group, Raiffeisen Bank International is joining EPI together with three regional banks: Raiffeisenlandesbank Niederösterreich-Wien, Raiffeisenlandesbank Oberösterreich, and Raiffeisen-Landesbank Steiermark. The regional entities are still awaiting supervisory board approval before their shareholdings become official.
Raiffeisen is the largest banking group in Austria, making its involvement a significant step for Wero’s adoption in the country.
Building a Pan-European Payment Network
Wero is designed as an instant account-to-account payment solution, allowing users to send and receive payments directly through their bank accounts. Its growth reflects Europe’s wider effort to create a more independent and resilient payments infrastructure.
EPI CEO Martina Weimert said the addition of Austrian banks supports the company’s mission to build a truly pan-European payment network.
The expansion also comes at a time when European banks and payment providers are working to reduce reliance on non-European payment systems and strengthen digital sovereignty in the financial sector.
Why This Matters for European Payments
Wero’s Austrian expansion is more than a market launch. It signals growing confidence among major European banks in a shared payment infrastructure that could compete with established card networks, digital wallets, and international payment platforms.
For consumers, Wero could offer faster and more direct payment options. For banks and merchants, it could support lower-cost digital payments and a more unified European payment experience.
As Wero enters Austria, Luxembourg, and the Netherlands, EPI is moving closer to its goal of creating a payment network that works across borders and supports everyday transactions throughout Europe.
Key Takeaway
Wero’s expansion into Austria, backed by Erste Bank Oesterreich and Raiffeisen, marks another major step in the European Payments Initiative’s mission to build a stronger instant payments ecosystem across Europe. With more than 55 million users already reached, Wero is positioning itself as one of Europe’s most important emerging payment solutions.