ECB seeks online merchants for 2027 digital euro pilot
Reported by Cointelegraph · AI-assisted summary by ChikoCorp AI News Desk
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Summary
The European Central Bank (ECB) is seeking online and mobile merchants in the euro area to participate in a 12-month digital euro pilot planned to start in the second half of 2027. Selected merchants will enable beta digital euro payments in e-commerce and mobile-commerce settings to test the currency's integration into checkout processes. The pilot will evaluate user experience, technical functionality, and operational processes, using a beta version that resembles the draft legislation but lacks legal tender status.
Why it matters
The ECB aims to gather merchant feedback to inform the design of the digital euro, which could have significant implications for digital payments in the euro area. However, the pilot is voluntary and unpaid, and a final decision on issuing the digital euro depends on the adoption of relevant EU legislation.
Key context
In July, the ECB selected 36 payment service providers from over 50 applicants, including Revolut, Stripe, Deutsche Bank, and UniCredit, to support user access and merchant acceptance in the digital euro ecosystem. Successful merchant applicants must establish or adapt a relationship with one of these participating payment service providers. The pilot is part of the ECB’s broader efforts to develop a central bank digital currency (CBDC).
Key numbers and entities
The pilot will last 12 months and begin in the second half of 2027. Merchant applications are open until October 27. The ECB previously selected 36 payment service providers, including Revolut, Stripe, Deutsche Bank, and UniCredit, from more than 50 applicants.
What remains unclear
Details such as the exact number of merchants to be selected, specific criteria for merchant participation beyond market reach and operational readiness, and the full scope of the pilot’s technological implementation remain unspecified. The source does not clarify how user privacy will be handled during the pilot.