EU has created a system that bypasses payment processing services like Visa or Mastercard. It’s called Wero and lets people send money directly between bank accounts, without using Visa or Mastercard to process those transfers.

So the EU is late to the party again? We’ve had Zelle for how many years now?

Last time the EU tried that. This has happened.

bank to bank with no card fees in the middle is the upgrade everyone needed

You mean the EU copied Brazilian PIX system? The one that Trump is desperately trying to take offline?

India has been using UPI for more than a decade, and the daily transactions are more than the combined transactions of both Visa and Mastercard

Wero is based on iDeal which was introduced in the Netherlands on 2005 It's not very common here to use Visa or Mastercard here. Although Visa debit is gaining popularity with some of the major banks here.

What could possibly go wrong?

We have Pix in Brazil since 2026. A free, public, digital payment system used by, basically, everybody in Brazil. You're late Europe.

.@grok isn't this what Interac e-Transfer has been doing in Canada for years?

everyone in the comments naming their own countrys version like this isnt just the obvious play. the real flex is skipping the 3% cut entirely

That doesn't sound too tyrannical.

It was about time

You have been able to do that in the UK for many years now all you need is the bank account number and the sort code

in Poland we have Blik, it is working for 11 years?

It must be accepted worldwide than it is useable

Old news Eu has done this for years

There is so many things wrong with this post

We have this for long time, we call it UPI. World’s biggest payment system outside cards operators.

Even Panama, a 3rd world country, has had that for years! Even street food is paid that way.

Wero is just a re-name of a payment service that did the same called IDEAL which was founded in 2005

Like India UPI

So basically EU-survellied Revolut. Great.

Most of the world has been able to do that for a while

We have a system like that in Portugal years before wero. MBWay.

Zelle?

About time!!👏👏

it is already operating for more than 10 years in The Netherlands, called Ideal ...

Not good!

why is this news? Many systems bypass these rails

You mean exactly like ... PayPal, somewhere the US had for 25 years?!?!?!

Hope it works, cause Visa and Mastercard are ass raping us at every turn

It has a transaction tax which is way more expensive than the systems which already existed.