- 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.
