Adding to that, Wero is trying to change the need for exchanging IBANs to just using phone numbers. Imo this is not a good thing tho but I guess in the current day and age it’s the way to go.
Allegedly there also will be a way to use a mail address but apparently depends on the bank (some banks implement Wero in their normal banking app while others implement it using the Wero app).
But while it’s a nice initiative it’s far from comparative to PayPal for example (things like payment protection etc won’t happen in Wero).



From my understanding it only adds an layer in front of your IBAN (either phone number or mail address). There are no additional features (like buyer protection) cause they aren’t an payment processor themselves, it’s only normal bank transfers (Echtzeitüberweisungen).
Edit: that’s also why banks have to explicitly support it, whereas PayPal just works with any bank.