A new European payment system, Wero, has been launched to make mobile transfers easier. The majority of savings banks and cooperative banks in Germany are now using Wero – operated by the European Payments Initiative (EPI) – to enable payments from one mobile phone to another. Unlike a conventional bank transfer, Wero users do not need a 22-digit account number, or IBAN, for the recipient. Instead, they can use a mobile phone number or email address to transfer money in real time, that is within 10 seconds. It should also be possible to pay online with Wero from 2025 and in high-street stores …