ECB opens work on ATM, payments for digital euro
The European Central Bank (ECB) is looking for industry experts to contribute to work streams focused on how the digital euro central bank's digital currency will work in ATMs, payment terminals and acceptance infrastructure.
In a notice published on Wednesday, the ECB opened applications for two work streams under the Rulebook Development Group (RDG), covering implementation details for ATM and terminal providers as well as certification and approval frameworks for payment solutions.
The roles will focus on defining how a potential digital euro will integrate with existing payment systems and hardware, including support for offline transactions and interoperability with standards used across Europe.
The move marks a shift from policy design to implementation planning as the ECB seeks input on how the digital euro will work within existing infrastructure.
Related: ECB unveils Appia roadmap for central bank money in Europe's tokenized markets
Workstreams target ATM integration, certificate frameworks.
According to ECB, one workflow focuses on the preparation of application details for ATM and terminal providers. This includes communication technologies, offline functions and reuse of existing payment standards.
The second workflow sets out the testing, certification and approval processes for payment solutions and infrastructure used by payment service providers in the digital euro ecosystem.
RELATED: Stablecoins Could Weaken Bank Lending and Monetary Policy in Europe: ECB
The divisions report to the RDG, which includes representatives from merchants, payment service providers and consumers.
According to ECBB, selected experts are expected to provide technical input for the development of standardized regulations.
ECB 2027 digital euro pilot target
The ECB said it plans to start selecting EU-licensed payment service providers (PSPs) ahead of a 12-month digital euro pilot expected to start in the second half of 2027.
In the year
While the developments point to continued progress in the digital euro, the ECB said a final decision on its issuance will only be made after the relevant legislation is enacted.
Magazine: The Debate Over Bitcoin's Four-Year Cycle Is Over: Benjamin Cowen
