ECB selects 36 payment providers including CecaBank and Revolut for digital euro pilot starting in second half of 2027

The European Central Bank (ECB) has selected 36 payment service providers (PSPs) to participate in a pilot programme for the digital euro, a preparatory step ahead of a possible 2029 launch. The 12-month testing phase will begin during the second half of 2027 and will use a beta version of the digital euro that is functionally and technically similar to the planned final product, though it will not yet have legal tender status.

Who is participating

Spanish firms CecaBank and Uinku Payments Entidad de Pago are among the selected participants. Other notable names include Revolut, which operates a unified banking infrastructure across the 27 EU markets. Six Italian representatives were chosen: Banca Monte dei Paschi di Siena, Banca Sella, Isybank, Nexi Payments, Poste Italiane, Numia, and UniCredit. Germany is represented by five entities: Deutsche Bank, DZ BANK, Landesbank Hessen-Thüringen Girozentrale, RS2 Financial Services, and PAYONE. Three Portuguese firms made the list: Banco Comercial Português, Caixa Geral de Depósitos, and Unicre - Instituição Financeira de Crédito.

Al operar una infraestructura bancaria unificada en los 27 mercados de la UE, nos complace apoyar al BCE y a los bancos centrales nacionales a la hora de testear esta iniciativa dentro del entorno piloto.

The full roster also includes Adyen, Bank of Cyprus Public Company, BAWAG, BPCE, Cooperative Bank of Chania Cooperative of Limited Liabilities, Corvus Pay, JCC Payment Systems, National Bank of Greece, Nova Ljubljanska banka, OP Retail Customers, Piraeus Bank, Raiffeisen Bank International, Raiffeisenbank Austria, Satispay Europe, Stripe Technology Europe, SumUp Limited, Tatra banka, and Worldline Financial Services (Europe).

Selection process and objectives

The Eurosistema received more than 50 applications following a call for expressions of interest issued in March 2026. The 36 selected participants were evaluated against a set of predefined eligibility criteria. The ECB noted that the chosen group spans a wide range of business models and sizes and offers broad geographic coverage, ensuring a diverse and representative testing environment. The pilot aims to test the technical functionality and operational processes of the digital euro and to refine the user experience.

What the digital euro represents

The ECB describes the digital euro as a digital form of cash issued by the central bank and available to all citizens in the eurozone. The project has drawn both support and criticism. Some observers warn about risks associated with digital currencies, including loss of direct ownership of money, dependence on platforms, and greater capacity for oversight of citizens' accounts. The pilot programme is designed to support ongoing preparatory work for the potential issuance of the digital euro in 2029.

Timeline and next steps

The pilot will run for 12 months starting in the second half of 2027. During this period, participants will test a beta version that closely mirrors the digital euro described in the draft legislation. The outcome of the pilot will inform the final decision on whether to proceed with a full launch, currently targeted for 2029.