Nuvei Joins EPI To Expand Wero Digital Wallet Access For Merchants

Nuvei has reported that it joined the European Payments Initiative (EPI) as one of the first providers to let merchants add Wero, EPI’s digital mobile wallet, to their online checkouts. According to the company, Wero was built to tap the power of account-to-account payments and help European banks rival global card networks. It has enrolled over 40 million users since launch in its first markets.

Nuvei explained that Wero uses SEPA Instant Credit Transfer rules to move funds in about ten seconds via phone numbers, email addresses, or QR codes.

Nuvei Expands Payment Options With Wero Integration

The firm said that later this year its merchant clients will offer Wero at checkout through their existing integration. A similar agreement with Nexi will connect German merchants to the wallet.

Nuvei added that EPI plans features like Buy Now Pay Later and loyalty rewards to make Wero a full-service digital wallet for Europeans.

Martina Weimert, Chief Executive Officer of EPI, commented that linking Wero to Nuvei’s wide merchant network would help speed up the use of a truly European payment solution. She added that this move supports financial sovereignty and gives both consumers and businesses a smooth and simple experience

EPI, backed by sixteen European banks and payment providers, aims to offer a single mobile payment service for all companies and citizens in the region. Moreover, Wero removes intermediaries in the payment chain to cut costs and currently supports person-to-person transfers. New services for professionals, online and in-store payments, merchant loyalty programs, and subscription management will follow.

Nuvei said its modular technology helps businesses in over 200 markets accept advanced payment methods, handle payouts, and issue cards. It also helps manage banking, risk, and fraud—all through one system that supports over 150 currencies and 720 other payment methods.

Nuvei Wants To Lead Global Payments Through Strategic Investment

Nuvei Corporation, based in Montreal, Canada, is a payment processor that helps businesses with both pay-in and payout options. The company went public through a major offering on the Toronto Stock Exchange, which was the largest technology IPO in Canadian history at the time. It later completed another public offering on Nasdaq.

Originally known as Pivotal Payments, Nuvei was started by Philip Fayer while he was taking time off from Concordia University. The company began by offering electronic payment and merchant services for in-store and online businesses. Since then, it has grown through client expansion and acquisitions.

Nuvei received funding from Goldman Sachs to support its acquisition plans. Later, a Montreal-based private equity firm and a public pension fund manager made a joint investment, valuing the company at over CA$500 million.