The European Central Bank selects 36 banks and payment service providers for testing the digital euro

The pilot will start in the second half of 2027 and will test for 12 months online, offline, in stores, and between people. The currency used will be an experimental version, without the status of legal tender, and the test does not mean that the ECB has already decided to launch the digital euro.

The European Central Bank has selected 36 banks and other payment service providers for the first extensive operational test of the digital euro. The pilot will start in the second half of 2027, will last for a year, and will check whether the system can operate in situations close to regular payments.

In short

1. The European Central Bank has chosen 36 banks and non-bank providers from the euro area out of more than 50 candidates. The names of the participants are not included in the announcement published by the institution.

2. The pilot will use a beta version of the digital euro, technically close to the system described in the European legislative project. The units used in the test will not have the status of legal tender and will not represent digital money put into circulation for the public.

3. Employees of the European Central Bank and the participating central banks will test payments between people, including without the internet, as well as purchases in stores, restaurants, cafes, and e-commerce platforms.

4. Some providers will open experimental accounts and allow payments to be made. Others will connect merchants to the system so that they can receive digital euros within the pilot.

5. The test will start in the second half of 2027 and will last for 12 months. The selection of participants prepares the technical infrastructure but does not constitute a decision by the ECB to issue a digital euro.

The European Central Bank has selected 36 payment service providers from the euro area for the digital euro pilot, after more than 50 companies responded to the open call in March 2026. The group includes banks and non-bank operators of different sizes and business models.

Participants will work with the ECB and national central banks to prepare the necessary systems before the test begins. The exercise is scheduled for the second half of 2027 and will last for 12 months.

The digital euro would be an electronic form of currency issued by the central bank, available alongside cash. It would differ from existing money in a commercial bank account, as it would represent a direct claim on the central bank, not on the bank where the user holds their account.

However, the pilot will not make a real digital euro available to the public. The ECB will use a beta version, functionally and technologically close to the system provided in the legislative project, but without the status of legal tender. The experimental units will not be able to be treated like banknotes, coins, or regular funds in euros.

Testing will involve employees of the ECB and the participating national central banks, along with online merchants and companies that provide everyday services in physical spaces, such as cafes and restaurants.

Participants will be able to make payments between people, both online and offline. An offline payment would allow the transfer of digital euros without an active internet connection, a feature that the ECB wants to test even for situations where access to the network is weak or unavailable.

The pilot will also cover payments to merchants. These will be tested at physical cash registers, through phones or other devices that function as payment terminals, as well as in e-commerce and through mobile applications.

The 36 providers will fulfill different roles. Distribution providers will allow users in the test to open a beta digital euro account and make payments. Acceptance providers will connect merchants and help them receive the experimental payments. Some companies will fulfill both functions.

The test will take place at the ECB and at 19 national central banks in the euro area: Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, the Netherlands, Austria, Portugal, Slovenia, Slovakia, and Finland.

A selected provider will also be able to participate in another country than the one in which it is established. This arrangement will allow the ECB to verify whether payments can function between users, merchants, and providers from different states, not just within a single national market.

"The strong market interest in the pilot shows the private sector's willingness to actively participate and rapidly advance the digital euro project," said Piero Cipollone, a member of the ECB Executive Board and chair of the high-level group for the digital euro.

The ECB will use the results to verify technical functioning, operational processes, and user experience. The pilot may indicate, for example, where delays in payment occur, how easy it is to open an account, and how the system operates when the user or merchant is not connected to the internet.

The institution will periodically publish information about the progress of the test. Before it begins, selected providers must adapt their systems and work with national central banks to connect to the experimental infrastructure.

Technical preparations do not equate to approval for launch. The issuance of the digital euro still depends on the adoption of the European legislative framework and a subsequent decision by the European Central Bank.

https://2eu.brussels/ro/news/banca-centrala-europeana-alege-36-de-banci-si-furnizori-de-plati-pentru-testarea-euro-digital