BNP Paribas Fortis, Belfius, ING, and CBS are launching Wero, a digital wallet in Belgium, Germany, and France, aiming for a unified European payment solution. The European Payments Initiative has acquired iDeal and Payconiq to enhance instant payments. Wero allows quick fund transfers without IBANs but cannot replace public money. The need for an independent European payment service has grown, especially after Visa and Mastercard's suspension in Russia. Wero faces challenges in competing with US payment systems and needs to gain consumer adoption.