Set Your Calendars and Contacts Free
PayPal to Wero
Illustration by Florian Biege
We roll our own sushi – and pay for it ourselves! This recipe shows you how to free yourself from U.S. payment giants that sell your data and charge retailers large fees. As a result, commerce and payment transactions in Europe today are also heavily dependent on U.S. sanctions or corporate decisions made in California.
If you want to switch to a secure, fair, and completely European system, you can follow this recipe – even if Wero doesn't have the necessary reach yet. But more retailers are gradually joining the platform.
Different ways to cook
Our digital switch recipes provide an easy, simple way to give Big Tech the push, but there are other options available. We have tried to make it easy by focusing on a single approach and a small number of options, but there are other alternatives that are just as good. After all, what we mean by ‘good’, ‘not so good’ and ‘bad’ is open to debate: DI.DAY is about easy ways to give Big Tech the push (without getting into purism or being preachy). Our decisions are based on advice from our advisory panel.
An overview of the alternatives is available on the next page:
Ingredients
1 existing checking account:
a participating bank (currently Sparkasse, Volksbank, Postbank, GLS, ING-Diba. More banks are participating soon – you can see which ones here).
1 generous pinch of cost advantage
Wero is significantly cheaper for businesses than PayPal, which helps support fair pricing in the long run.
Preparation
1 Activate the “carrier” (Prepare)
Unlike PayPal, you don’t need to download a new third-party app for Wero and enter your details there. Wero is integrated directly into your trusted bank’s app (if your bank offers Wero).
- Open your banking app.
- Search for “Wero” (often found under “Send & Receive” or “Mobile payment”).
- Activate the service with just a few clicks. Done!
2 Send money in real time (Serve)
Wero uses SEPA Instant Credit Transfer. This means your money reaches the recipient in under ten seconds – 24/7, 365 days a year.
- All you need is the recipient’s cell phone number or email address.
- The money flows directly from account to account without being “parked” in an intermediary account, and certainly not with a U.S. corporation.
3 Online shopping & retail (Season to taste)
- Online: Look for the Wero logo at checkout. Retailers like eventim are already on board. Lidl, Decathlon, Rossmann or Otto are coming soon. Similar to credit cards or PayPal, Wero can then be used to pay for online purchases.
- In-store: Starting this year, you'll also be able to pay directly with Wero for more and more in-store purchases.
- Borderless: Wero is pan-European. The integration of systems from Belgium, France, and the Netherlands creates a real network in all of Europe.
4 What if Wero isn’t accepted?
Payments made via direct debit (SEPA direct debit) or by invoice followed by a bank transfer are also independent of corporate groups. The Consumer Protection Agency sees payment provider Klarna as having both advantages and disadvantages.
Dessert
What if your bank doesn’t support Wero yet? Or are you looking for extra ingredients for your European portfolio? Then you'll find what you need here:
- Twint (Switzerland): The inspiration for Wero. It’s already the standard in Switzerland and is set to be integrated with Wero in the future.
- iDEAL (Netherlands): The local market leader is currently being integrated into Wero to create a joint European powerhouse.
- Digital euro: In the future, Wero could serve as the technical foundation (“carrier”) for the digital euro, which would complete European financial independence.
- GNU Taler: For open-source fans, GNU Taler is the perfect payment system, offering the highest standards of data protection for customers and tax transparency for retailers. GLS bank is preparing to support it. In certain regions of Switzerland, it’s already possible to pay with Taler.
Enjoy your meal! You have just taken a big step towards a more independent digital existence.
Once you #DIDit – share our post about the digital switch and inspire others to take control of their own digital lives!
Topping
Enjoy your meal! Making payments with Wero is GDPR-compliant, secure, and supports the European economy. So, open your banking app now and activate Wero. Next time you need to make a small payment (e.g. when you have coffee with friends), don't use PayPal – send it directly through Wero!
