The Eurozone Monetary Authority Eurosystem invites payment service providers and banks to participate in the competition of solution providers for payments in the national digital currency.
Eurosystem is looking for developers of payment solutions for the digital euro. The request specifies that the prototype proposed by the developers should test the digital euro transaction path on a backend developed by regulators. And also to test the processing and completion of the CBDC transaction in the back end of one of the central banks of the eurozone members.
Based on the results of the competitive selection, Eurosystem is going to invite up to five suppliers, with whom the management will cooperate in developing prototypes for users.
The winners will sign contracts with the financial authorities of the EU area and are expected to organize the development of prototypes in the process of cooperation, share their feedback on the interface and internal infrastructure, including data requirements to support a specific business model. The start of prototyping is scheduled for August 2022 and may continue until the first quarter of 2023.
In March, Fabio Panetta, a member of the European Central Bank (ECB) executive committee, said that the ECB study revealed a desire for EU citizens to “pay physically for purchases.” The ECB believes that for the successful implementation of state digital currencies, they must be accepted by any outlets.
