Yeah, it's a debit account. I'm in Spain and use Bizum frequently. It's just a "pay from your bank account" system.

You mostly type in your phone number, get a notification (or text, depends on the bank) and open up your banking app and approve the transaction.

You can send money person to person as well.

Many European countries have a similar system. Wero is "just" stitching the national systems together into a EU wide one.

Credit cards with rewards and points are pretty rare in Europe, and if they do exist, pale in comparison to what you can get in the US/Canada. It depends on how you look at it, but it's kinda good. The EU caps credit card transaction fees at 0.3% and debit transactions at 0.2% iirc, versus in the US/Canada where they are frequently 2-3%. In theory this cost is just passed onto the consumer, so paying an extra 2-3% to get 2-3% back in points or whatever.