EPI completes acquisition of iDEAL and Payconiq International 

By Gloria Methri

The European Payments Initiative (EPI) has announced the successful closure of the acquisition of Dutch payment solution iDEAL and the Luxembourg technology provider Payconiq International.

The deal marks a significant milestone for EPI’s strategy to deliver a unified instant payment scheme and platform for Europe.

The completion of these acquisitions will enable EPI to start preparing the deployment of its payment solution in Belgium, France, and Germany, followed by the Netherlands, before extending to other European countries.

EPI believes that both iDEAL and Payconiq International constitute strategic assets that will support to drive forward its mission to build a digital wallet solution and an instant, account-to-account payment means under one unified brand across Europe. The company recently announced that its digital wallet, named Wero, is set to redefine the way people pay, bridging the gaps in the current payment ecosystem in Europe.

Martina Weimert, the CEO of EPI said, “I personally would like to express my gratitude to all parties involved in these significant transactions. I thank our shareholders for their continuous trust in EPI’s vision and mission and the relevant authorities for their diligent review. Furthermore, I would like to express a warm welcome to the employees of iDEAL and Payconiq International who will be joining the EPI family. I believe that their expertise and experience will be very valuable in driving the success of EPI and its payment solution Wero.”

The company reassured the business continuity of iDEAL and Payconiq International, and of their service integration throughout the transition process. EPI said it remains fully committed to providing uninterrupted payment services to merchants and consumers in Luxembourg, Belgium, and the Netherlands.