Overview
- The ECB issued a merchant call on Sept. 15 inviting euro-area e-commerce and mobile-commerce businesses to join a 12-month controlled pilot that is due to run in the second half of 2027.
- The test will use a beta token that is not legal tender to trial online, mobile, in-store and person-to-person payments with the ECB, 19 national central banks and staff acting as users.
- In July the ECB already selected 36 banks and payment firms to connect users and merchants, including Deutsche Bank, Revolut, CaixaBank, BNP Paribas and ING.
- Merchant participation is voluntary and unpaid and selected sellers must integrate with an acquiring payment service provider, which industry experts say may require lower processing fees or other incentives to secure broad uptake.
- Any decision to issue a live digital euro remains conditional on EU legislation and a separate ECB Governing Council decision with the project framed as a response to the growing market share of dollar-backed stablecoins.