Spuerkeess, BGL BNP Paribas, Banque Internationale à Luxembourg (BIL), Post Luxembourg, and Banque Raiffeisen have joined forces with the European Payments Initiative (EPI) to introduce Wero, an instant payment solution set to replace Payconiq in Luxembourg by 2026.

According to Paperjam, the five banks have formalised their participation in EPI, with the goal of launching the Wero service for customers by June 2026.

Already operational in Germany, France, and Belgium, Wero is gaining momentum as a European-wide, account-to-account (A2A) alternative to foreign payment providers like Visa and Mastercard.

Payments will be processed directly between accounts without relying on international intermediaries.

Designed to be instant, secure, simple, and above all sovereign, Wero aims to serve Europe’s unique financial landscape.

In Luxembourg, where nearly half of the workforce commutes from neighbouring countries, the solution’s interoperability will allow residents to send and receive money instantly, pay online and in-store, and manage bills from a single app across borders.

Luxhub, the fintech acting as a technical service provider, is supporting the transition to ensure smooth integration.

“Thanks to Payconiq’s local reach and trust from merchants, I’m confident that the roll-out of Wero will be seamless and impactful to bring our promise to reality,”

said EPI CEO Martina Weimert.

Wero will begin its rollout to Luxembourg retailers in 2025, with a full transition from Payconiq expected by September 2026.

The interim period will enable businesses to adapt and gradually shift their payment systems.

Wero is expanding to include additional features such as online payments (by late 2025), and in-store transactions, subscription management, and loyalty services starting in 2026.

Featured image credit: Edited by Fintech News Switzerland, based on image by Cedric Letsch via Unsplash