The European Central Bank (ECB) has called for online and mobile merchants to participate in a digital euro pilot, it said in a Tuesday (Sept. 15) press release.
The pilot presents an opportunity for merchants to collaborate with the ECB and euro area national central banks, gain firsthand experience of a simulated digital euro ecosystem and provide feedback that will shape the digital euro’s technical specifications, according to the release.
The pilot is expected to begin in the second half of 2027 and last 12 months. It will use a beta version of the digital euro to test the technical functionality, operational processes and overall user experience of the digital euro, per the release.
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“The pilot will be conducted transparently, reflecting the Eurosystem’s commitment to a responsible and trusted introduction of a digital euro, should a decision to issue be taken in the future,” the ECB said in the release. “The final decision on whether to issue a digital euro will only be taken once the relevant EU legislation has been adopted. The Eurosystem’s ongoing preparations for a digital euro will be implemented flexibly, ensuring alignment with the legislative process.”
The ECB said in a July 14 press release that it selected 36 payment service providers (PSPs) from across the euro area to participate in the digital euro pilot.
More than 50 PSPs submitted applications, reflecting strong market interest in the digital euro, the ECB said in the release.
The selected participants include banks and nonbank service providers spanning a range of business models, sizes and geographic coverage, according to the release.
“The strong market interest in the pilot shows the private sector’s readiness to engage actively and quickly advance with the digital euro project to strengthen the European payments landscape,” ECB Executive Board member Piero Cipollone said in the July release. “We look forward to deeper engagement as we work with and learn alongside European payment service providers in developing a secure, efficient and inclusive digital euro.”
It was reported in June that concerns about overdependence on American payment providers such as Mastercard and Visa — as well as the White House’s support of stablecoins — had added momentum to the digital euro project, which was launched in 2023 but stalled amid debate among nations and lawmakers.
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