EPI successfully completes acquisition of iDEAL and Payconiq International 

Brussels, 31 October 2023:  The European Payments Initiative (EPI) is pleased to announce the successful closure of the acquisition of the Dutch payment solution iDEAL and the Luxembourg technology provider Payconiq International as announced earlier this year.

EPI is delighted to confirm that following the positive conclusion of all relevant regulatory approval processes, EPI has been able to complete today its acquisition of respectively Currence iDEAL B.V. and of Payconiq International S.A. This marks a significant milestone for EPI's strategy to deliver a unified instant payment scheme and platform for Europe.

The completion of these acquisitions further supports EPI's ambition to become a leading player in the European payments landscape. It also underscores EPI’s commitment to provide Europe with an innovative, secure and instant digital payment solution. This will enable EPI to start preparing the deployment of its payment solution in Belgium, France, Germany, followed by the Netherlands -  countries that together represent more than half of all non-cash payments in the euro area, before extending to other European countries.

EPI firmly believes that both Currence iDEAL B.V. and Payconiq International S.A. constitute strategic assets that will support to drive forward EPI’s mission to build a digital wallet solution and an instant, account-to-account payment means under one unified brand across European countries. EPI 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.

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 & mission and the relevant authorities for their diligent review. Furthermore, I would like to address 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” says Martina Weimert, the CEO of EPI.

Amidst this significant evolution of the company, EPI reassures business continuity of iDEAL and Payconiq International, and of their seamless service integration throughout the transition process. EPI remains fully committed to providing uninterrupted payment services to the merchants and consumers in Luxembourg, Belgium and the Netherlands.

Financial information about the acquisitions will not be disclosed.

In the Netherlands, the new iDEAL, which is currently being rolled-out, is using Payconiq International’s technology. The Dutch consumers and iDEAL-accepting merchants will continue to use iDEAL in the same way. A smooth transition and integration from iDEAL to Wero will start in 2025.

Finally, we express our utmost gratitude to everyone involved and we look forward to embarking with our shareholders and members on this new chapter together. 

Why is EPI purchasing iDEAL?

iDEAL has been a reliable market leader for years. We are a robust platform with 3.5 million transactions per day. Acquiring iDEAL is a significant step in EPI's ambition to develop a uniform, tailor-made payment solution for all of Europe. iDEAL will become an important component in a European collaboration to improve payments within Europe for both businesses and consumers.

Why is iDEAL going to change after just being sold?

Concurrent with the collaboration with EPI, iDEAL is evolving to enable more extensive and even faster service provision. This applies to both merchants and consumers. Why? To ensure that iDEAL remains a reliable and rapid payment solution for various users in the coming years. We are also following the wishes of our customers, including PSPs, large and small webshops, and of course, consumers.

Is this development necessary for iDEAL?

The acquisition of iDEAL by EPI proves the value and reliability of our payment solution. We are proud of the fact that EPI has chosen iDEAL as the foundation for its ambition. iDEAL is expanding to continue aligning with consumer shopping and payment behaviour and the desires of entrepreneurs. The new iDEAL is all about convenience for the consumer and the ability to shape their own payment process. iDEAL is getting better, or as we say, more ideal.