ECB Seeks Online Merchants for Digital Euro Pilot
The European Central Bank (ECB) has launched a call for online and mobile commerce merchants to participate in its digital euro pilot. The invitation is open to businesses operating across the euro area, with selected participants working alongside the ECB and national central banks to test the technical performance of a 'beta digital euro'. This beta version will closely resemble the digital euro outlined in draft EU legislation, although it won't have legal tender status.
Participants will trial customer payment journeys, examining how a digital euro could integrate with existing checkout systems. They'll also be encouraged to provide feedback on merchant requirements, integration challenges, and the wider customer experience. The pilot aims to combine central bank oversight with real-world merchant participation, running transparently as part of the Eurosystem's preparations for introducing a potential digital euro.
The call is optional and unpaid, with chosen merchants signing a merchant participation agreement setting out the terms of their involvement. They'll need to set up or adjust a contractual relationship with an acquiring payment service provider taking part in the pilot. The ECB will review applications against eligibility rules and weighted criteria covering market reach, operational readiness, and overall suitability for the pilot.