EPI Acquires Dutch Payment Solution iDEAL and Luxembourg Tech Provider Payconiq International

The European Payments Initiative (EPI) has confirmed the successful acquisition of Dutch payment solution iDEAL and Luxembourg technology provider Payconiq International. This move is a significant step in EPI’s strategy to provide Europe with a unified instant payment platform.

Advancing the European Payments Landscape

With all necessary regulatory approvals obtained, EPI’s acquisition of Currence iDEAL B.V. and Payconiq International S.A. underscores its commitment to becoming a leading player in the European payments landscape. This development will further EPI’s ambition to provide an innovative, secure, and instant digital payment solution.

The acquisitions will facilitate EPI’s preparation for deploying its payment solution in Belgium, France, Germany, and the Netherlands. These countries represent more than half of all non-cash payments in the euro area. The move will subsequently extend to other European countries.

Strategic Assets for EPI’s Mission

Both Currence iDEAL B.V. and Payconiq International S.A. are seen as strategic assets in EPI’s mission to build a digital wallet solution and an instant, account-to-account payment method under a unified brand across European countries.

EPI’s digital wallet, named Wero, aims to redefine the way people pay, bridging gaps in the current payment ecosystem in Europe.

A Warm Welcome for New Team Members

Martina Weimert, CEO of EPI, expressed gratitude to all parties involved in the transactions. She also welcomed the employees of iDEAL and Payconiq International, believing their expertise and experience will be valuable in driving the success of EPI and its payment solution, Wero.

Business Continuity and Seamless Service Integration

Despite the significant evolution of the company, EPI reassures the business continuity of iDEAL and Payconiq International. The company is committed to providing uninterrupted payment services to merchants and consumers in Luxembourg, Belgium, and the Netherlands throughout the transition process.

About EPI

Backed by 16 European banks and financial services companies, the European Payments Initiative aims to progressively build a payment solution tailored for Europe. The initiative leverages the instant account-to-account payments infrastructure available in Europe to improve efficiency and remove intermediaries in the payment flow. Initially, EPI will support person-to-person (P2P) and person-to-professional (P2Pro) payments, followed by online and mobile shopping payments and point-of-sale payments.