The European Payment Initiative (EPI) Launches Digital Wallet

Morningstar DBRS has released a commentary on The European Payment Initiative's digital wallet launch. Key highlights include:

-- Wero, a digital wallet by the European Payment Initiative, has launched in certain countries.
-- The initiative, if successful, could reduce the dominance of large US players, but hurdles exist.
-- Digital Euro could be in competition with wero, if and when it is launched.

"In our view, the project has been set up with a solid foundation from a technical point of view and includes players with a critical mass of clients in four major European countries," said Sonja Forster, Senior Vice President from the Morningstar DBRS Global Financial Institutions team. "However, many payment solutions are on the market already and it remains to be seen if customer habits can be changed."