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Key Takeaways:
- The ECB has picked 36 payment service providers to join its digital euro pilot.
- Testing will start in the second half of 2027 and last for 12 months.
- The pilot involves tests of real-life payment situations in 19 euro-area central banks.
The European Central Bank (ECB) has selected 36 payment service providers (PSPs) to participate in its upcoming digital euro pilot, marking another major milestone in Europe’s central bank digital currency (CBDC) initiative.
36 payment service providers from across the euro area have been selected for the digital euro pilot.
Starting in the second half of 2027, the 12-month exercise to test the digital euro’s features will take place at the ECB and 19 national central banks https://t.co/B88b6doEza pic.twitter.com/9MC1OJydRi
— European Central Bank (@ecb) July 14, 2026
The pilot is expected to start in the second half of 2027 and will take place over a period of 12 months. It aims to experiment with the technical, process, and user experience of the digital euro prior to the decision to implement it on a widespread basis.
Strong Industry Interest in the Digital Euro
The selected participants emerged from a pool of more than 50 applicants after the ECB launched a call for expressions of interest in March 2026.
The final group is composed of banks and the whole of non-bank payment providers across all euro area countries, according to the ECB. The diverse range of participant types aims to ensure a diverse testing environment and to leverage approaches from a different model and the different markets.
ECB Executive Board member Piero Cipollone noted that the positive reaction reflects increasing interest in the private sector and the industry’s readiness to contribute to the development of a digital payment infrastructure in Europe.
The pilot is as part of the ECB’s continued preparations for a potential digital euro, which it is examining as a complement to cash in a steadily digital economy.
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Real-World Payment Testing Begins in 2027
During the exercise, a Beta version of the digital euro which closely mirrors the design currently under development by the ECB will be used. It will not be accepted as legal tender, however, and will only be accepted in the pilot environment.
The payment providers that participate will help facilitate various testing activities. Technology firms will have digital euro wallets and payment services, and merchants will be able to process digital euro transactions. Multiple participants will play more than one role.
The pilot will include merchants for basic services, national central bank employees, e-commerce companies and the ECB staff. The participants will be putting the person-to-person payments, merchant payments, online payments, offline payments, mobile payments and online payments to test in the real world to understand the actual performance of the digital euro.
Focus on User Experience and Infrastructure
In addition to technology capabilities, the ECB wishes to gain insight into consumers’ payment habits and daily interactions with digital euro.
19 Central Banks Join the Program
In the pilot, Germany, France, Italy, Spain, the Netherlands, Belgium, Ireland, Portugal, Finland and a selection of other euro area Member States will participate, through the ECB and their central banks.
The selected payment providers will now closely cooperate with the ECB and their national central banks in setting up systems and infrastructure before the launch.
As European countries implement their next generation digital payments framework, the digital euro project is stepping from the planning phase towards reality with dozens of payment firms already on board and testing slated for 2027.
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