I couldn't have said it better. I don't understand what they solve.
We need instant, free SEPA transfers around the clock. Switzerland is not part of SEPA but IBAN is used so it is trivial to send payments to foreign accounts that have an IBAN.
I always say that the day Trump decides to block Visa/MasterCard outside the US is the day we get instant payments and finally get rid of cards.
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.
> your IBAN number, which at least in Germany can be used to take money from your account
What the f#*k?!
SEPA instant already exists. I think it guarantees sub-10s transactions. Unfortunately it is not the default.
SEPA is only for Euros but there are countries that don't use Euros that still use IBAN (e.g. Switzerland and UK).