European Payments Initiative completes acquisitions of iDEAL and Payconiq International

The European Payments Initiative (EPI) has acquired iDEAL, an online payment solution by Dutch payments processor Currence, and Payconiq International (PQI), a Luxembourg-based payment technology provider.
EPI is a collaborative effort by 16 major European banks to create a standardized payment solution using instant account-to-account payment infrastructure.
EPI is set to launch its digital wallet solution, Wero, to facilitate faster and more efficient payments between customers and merchants in Belgium, France, and Germany by mid-2024, followed by the Netherlands.
The acquisition of PQI and iDEAL was announced in April to leverage their expertise in preparation for the launch of Wero.
PQI has a commercial relationship with Currence and distributes iDEAL in the Dutch market, facilitating online transactions through bank accounts.
EPI CEO Martina Weimert sees the addition of iDEAL and PQI as valuable for the success of EPI and Wero, but the financial details of the acquisitions remain undisclosed.