From Pymnts · PYMNTS · · 1m 30s
The ECB wants merchants to help build the digital euro
Online and mobile shops can now sign up to test a beta digital euro and shape how it works before any launch decision.
In brief
Online and mobile shops can now sign up to test a beta digital euro and shape how it works before any launch decision. Merchants can join a 12-month digital euro pilot starting in late 2027 and influence its design, but issuing the currency still depends on EU law. Originally reported by Pymnts.
Merchants wanted for the pilot
The European Central Bank is inviting online and mobile merchants to join its digital euro pilot, announced in a press release on September 15.
A say in the design
Merchants will work with the ECB and national central banks, try a simulated digital euro system firsthand, and give feedback that shapes its technical specs.
A year of testing from 2027
The pilot starts in the second half of 2027 and runs for 12 months, using a beta digital euro to test functionality, operations and the user experience.
No decision to issue yet
The ECB will only decide whether to issue a digital euro after EU legislation is adopted. Its preparations will adjust to follow that process.
“The final decision on whether to issue a digital euro will only be taken once the relevant EU legislation has been adopted.”
36 payment providers already in
In July the ECB picked 36 banks and nonbank providers of different sizes, business models and regions from more than 50 applicants.
“We look forward to deeper engagement as we work with and learn alongside European payment service providers”
Why momentum is back
Worries about relying on Mastercard and Visa, plus White House support for stablecoins, revived a project launched in 2023 that stalled amid political debate.
In short
Merchants can join a 12-month digital euro pilot starting in late 2027 and influence its design, but issuing the currency still depends on EU law.
