Comment by pimeys

In Germany we have free instant SEPA transfers. What Wero solves is that you can send money without giving your IBAN number, which at least in Germany can be used to take money from your account.

So you get standardized payment system where you scan a QR code or NFC tag with your bank app and the payment goes through IBAN and the system shows an approval of payment.

It still uses the same systems under the surface.