ECB Seeks Online Merchants for Digital Euro Pilot Program
The European Central Bank (ECB) is seeking online and mobile merchants to participate in its digital euro pilot program. The ECB wants businesses operating in the euro area that offer e-commerce or mobile-commerce services to apply by October 27, 2023. Selected merchants will enable beta digital euro payments in remote commerce environments and test how the currency can be integrated into checkout processes.
The pilot aims to assess user experience, technical functionality, and operational processes of the digital euro. The ECB clarifies that the beta version will not have legal tender status and is close to the currency described in the draft legislation. Participation in the pilot will be voluntary and unpaid, with applicants assessed on their market reach, operational readiness, and suitability.
The ECB has already selected 36 payment service providers from over 50 applicants to support user access, merchant acceptance, or both. The list includes Revolut, Stripe, Deutsche Bank, and UniCredit. Merchant feedback will inform design decisions, and a final decision on issuing a digital euro will be made only after the relevant EU legislation is adopted.