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The European Central Bank has selected 36 payment service providers to prepare for a year-long digital euro pilot starting in the second half of 2027.
The group includes banks, fintechs and payment processors that will test how consumers and merchants could use a beta version of the central bank digital currency in everyday transactions.
Deutsche Bank, Revolut and Stripe Join Group
More than 50 licensed payment providers applied after the ECB opened its selection process in March. The selected firms include Deutsche Bank, UniCredit, Revolut Bank, Adyen, Stripe, SumUp, Nexi and Worldline.
The ECB said it chose companies across different business models, sizes and euro-area markets. Providers may offer pilot services outside the country where they submitted their applications, with final operating locations due to be confirmed later in 2026.
Providers Will Handle Wallets and Merchant Payments
Some firms will distribute the beta digital euro to participating users through the ECB’s app or their own banking applications.
Others will provide merchant payment services that allow selected physical and online merchants to receive payments.
Several providers will handle both roles, giving the ECB a way to test consumer access and merchant acceptance through different payment models.
Pilot Will Test Online and Offline Payments
The test will involve staff from the ECB and 19 participating national central banks. Selected cafeterias, restaurants, service providers and e-commerce merchants will also take part.
Participants will test person-to-person payments online and offline, along with purchases at physical points of sale and online stores.
The project will examine system reliability, scalability, payment processing and the experience offered to users and merchants.
Beta Digital Euro Will Not Be Legal Tender
The beta digital euro will be technically close to the version described in draft EU legislation, but it will not have legal tender status. Participating providers cannot charge consumers or merchants fees for pilot services.
The ECB has not decided to issue a digital euro. It aims to be technically ready for a possible 2029 launch, depending on the EU legislative process.
Integration Work Starts in Q3 2026
Development work starts in the third quarter of 2026. Providers will connect to the digital euro service platform, build payment functions, complete back-end certification and onboard test users before transactions begin.
The selected providers will now work with national central banks on integration and testing before the 12-month pilot enters its operational phase in the second half of 2027.
