The European Central Bank (ECB) selected payment service providers to participate in the digital euro testing program. The trials will begin in the second half of 2027 and will run for 12 months.
The ECB announced the selection of 36 payment service providers (PSPs) from across the euro area for the digital euro testing program. The initiative will mark a key step toward issuing the central bank digital currency (CBDC) and will test the technical infrastructure, operational processes, and user experience.
Market interest in the project was strong. More than 50 applications were submitted by banks and non-bank payment institutions during the participant recruitment campaign launched in March 2026. The final group includes organizations of different sizes and business models, representing a broad cross-section of the euro area. Participants include Deutsche Bank, UniCredit, Revolut, SumUp, Groupe BPCE, and many others.
The testing program will also involve:
- the European Central Bank;
- 19 national central banks, including those of Germany, France, Italy, Spain, the Netherlands, Belgium, Austria, Portugal, Finland, and other euro area countries;
- e-commerce merchants;
- retail businesses;
- service providers, including cafés and restaurants.
The trials will use a beta version of the digital euro that is functionally and technically close to the model outlined in the proposed EU legislation. However, the test currency won’t have legal tender status.
Some of the selected companies will distribute the digital euro by providing program participants with access to test accounts and payment services. Others will act as acquirers, enabling merchants to accept digital euro payments. Some providers will perform both roles.
During the testing program, participants will be able to make person-to-person payments both online and offline. The initiative will also test payments at physical points of sale, including Software Point of Sale (SoftPOS) solutions, as well as e-commerce transactions. Mobile payments will also be included.
According to ECB Executive Board member Piero Cipollone, strong market interest demonstrates that the private sector is ready to play an active role in advancing the digital euro project. The findings from the testing program will be used to further refine the digital euro’s architecture and improve the user experience ahead of a potential CBDC launch.
The ECB continues to advance the digital euro project by developing the technical standards for the future digital currency. Meanwhile, a European Parliament committee recently approved the rules governing the rollout of the CBDC.
