WERO: a new era for European payments in the age of AI

September 2024 marks a major turning point in the European payments landscape with the operational launch of WERO for person-to-person (P2P) transactions. This system, based on instant transfers, represents a significant step towards European financial sovereignty, particularly important in the age of artificial intelligence (AI).

An innovative, sovereign protocol

WERO, associated with the European Payment Initiative (EPI) launched by the European Central Bank, is positioned as a credible alternative to traditional payment networks dominated by American players. This initiative responds to a growing need for technological and financial independence in Europe, all the more crucial in the face of the rise of AI in the financial sector.

Safety and efficiency at the heart of the system

The WERO protocol incorporates robust security measures at every stage of the payment process, from enhanced authentication and protected data capture to secure authorization and reliable instant transfer. This holistic approach to security aims to build a high level of trust among users and financial institutions, while leveraging advances in AI to enhance fraud detection and transaction optimization.

Challenges and opportunities

The implementation of WERO raises several challenges, including user and merchant adoption, interoperability with existing systems, and effective fraud management on a European scale. To meet these challenges, expertise in machine learning and in-depth knowledge of customer behavior will be crucial. AI will play a central role in the predictive analysis of fraudulent behavior and the continuous improvement of system security.

Future prospects

The deployment of WERO paves the way for a profound transformation of the European payments sector. Eventually, the system will extend beyond P2P transactions to include local (Proxy), distance selling (VAD) and even cross-border commercial payments, thereby strengthening the financial autonomy of the European Union. The integration of AI into WERO will enable more personalized and efficient financial services, while maintaining a high level of security.

Above all, WERO represents a major step towards a sovereign, innovative and secure European payment ecosystem. Its success will depend on the ability of industry players to collaborate effectively, integrate AI technologies responsibly, and guarantee a smooth and secure user experience. In a world where AI is rapidly redefining financial services, WERO positions Europe as a leader in payments innovation, combining technological sovereignty and operational excellence.