Overview

• The European Central Bank signed framework agreements for five core components, selecting primary and backup providers for alias lookup, fraud management, an app and SDK, an offline solution, and secure exchange of payment information.
• Feedzai, with PwC as subcontractor, will provide a centralized real-time AI system that scores fraud risk for each transaction and supplies ex-post analytics to payment service providers under a contract capped at €237.3 million.
• Giesecke+Devrient was chosen to deliver an offline, cash-like payment capability that works without internet connectivity, with a second offline provider to be announced.
• No payments will be made and development will not begin until the ECB Governing Council authorizes the next phase following adoption of the Digital Euro Regulation, with a potential launch window discussed around 2029.
• The selections follow a competitive process initiated in January 2024 and emphasize privacy, resilience and European payment sovereignty in response to reliance on non-European networks and rising stablecoin use.