The Eurosystem has issued a call for expressions of interest for licensed payment service providers (PSPs) to join a digital euro pilot.
It also published extensive technical, operational and procedural material to accompany the exercise.
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The pilot was announced following the ECB Governing Council’s decision to move the digital euro project into its next phase.
The Eurosystem said it has already received interest from various stakeholders, with many attending a preliminary focus session in January.
The test is due to run for 12 months during the second half of 2027.
It will assess proposed digital euro features in a controlled environment, with the aim of checking technical performance, operational processes and the user experience.
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By GlobalDataThe “beta digital euro” used in the pilot is for testing only and will not have legal tender status.
Participants will include staff from Eurosystem central banks and selected merchants offering everyday services on the premises of the ECB and euro area national central banks, such as cafeterias and restaurants. E-commerce merchants will also be involved.
Central bank staff taking part will be able to make person-to-person payments online and offline.
They will also be able to make person-to-business payments at physical points of sale and through e-commerce, including mobile commerce.
The Eurosystem said the pilot will also be used to refine the digital euro’s design and user experience, and to test communication and branding.
A final decision on whether to issue a digital euro will only be made once the relevant EU legislation has been adopted.
For PSPs, the Eurosystem described the pilot as a way to work directly with its operational and technical teams.
Selected firms are expected to gain practical exposure to a simulated digital euro ecosystem and provide feedback that helps shape technical specifications.
Participation will not be remunerated, the Eurosystem said.
Selected PSPs will provide pilot payment services, including onboarding participating consumers and merchants, and supporting validation of core digital euro functions.
Applications will be assessed by the Eurosystem using eligibility requirements and weighted evaluation criteria.
These include regulatory compliance, technical and operational capabilities, market presence and delivery track record.
