This is not a wallet (the name is a bit confusing). Wero (like iDEAL, which it is partly based on), is an online payment system directly backed by your bank account. This is an app that uses the Wero system for doing P2P payments (like Tikkie in The Netherlands).
Most likely, Wero (like iDEAL) will also support alternative apps for P2P payments.
Also, Wero will support in-store payments in the future, making Google Pay/Apple Pay unnecessary [1] unnecessary, which is a big win.
[1] Strictly spoken it's unnecessary now as well, but then each bank needs to implement its own NFC app and most simply opt foor Google/Apple Pay.
It can be both, the plumbing is straight forward, simply a matter of will to implement. UPI in India, Pix in Brazil, FedNow in the US, etc. Trimmings are things like paying via QR code and alias support (phone, email IDs). Pix had native alias support, Wero is alias support on top of SEPA Instant payment rails (with a ~ten second settlement SLA).
This gets you to utility cost recovery fee structures and sovereignty over your payment infra, versus other countries controlling your value transfer capabilities.
microtonal|13 days ago
Most likely, Wero (like iDEAL) will also support alternative apps for P2P payments.
Also, Wero will support in-store payments in the future, making Google Pay/Apple Pay unnecessary [1] unnecessary, which is a big win.
[1] Strictly spoken it's unnecessary now as well, but then each bank needs to implement its own NFC app and most simply opt foor Google/Apple Pay.
vanviegen|13 days ago
tormeh|13 days ago
toomuchtodo|13 days ago
This gets you to utility cost recovery fee structures and sovereignty over your payment infra, versus other countries controlling your value transfer capabilities.
https://en.wikipedia.org/wiki/Instant_payment
https://en.wikipedia.org/wiki/Wero_(payment)
https://en.wikipedia.org/wiki/Single_Euro_Payments_Area
https://www.ecb.europa.eu/paym/retail/instant_payments/html/...