Amazon, Caixabank, EPI, Nexi and Worldline were selected among 54 applicants to contribute to the future of payments in Europe. The aim of this prototyping exercise is to test how well the technology behind a digital euro integrates with prototypes developed by companies.
„Simulated transactions will be initiated using the front-end prototypes developed by the five companies and processed through the Eurosystem’s interface and back-end infrastructure. There are no plans to re-use the prototypes in the subsequent phases of the digital euro project.” – ECB says in a press release.
Together with the ECB team, the selected companies will each focus on one specific use case of a digital euro: CaixaBank – peer-to-peer online payments, Worldline – peer-to-peer offline payments, EPI – point of sale payments initiated by the payer, Nexi – point of sale payments initiated by the payee, Amazon – ecommerce payments.
The firms have been chosen from a pool of 54 front end providers. Their selection follows the April 2022 call for expressions of interest in joining the prototyping exercise. All 54 companies fulfil a number of “essential capabilities” that were outlined in the call, while the five providers chosen best matched the “specific capabilities” required for the assigned use case. The ECB appreciates the wide interest shown in the prototyping exercise.
The prototyping exercise is an important element in the ongoing two-year investigation phase of the digital euro project. It is expected to be completed in the first quarter of 2023 when the ECB will also publish its findings.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
