This initiative aims to validate specific digital euro functionalities in a controlled environment and provides participating institutions with the opportunity to gain first-hand experience, actively contributing to the development of the future European payments’ ecosystem.
The alliance brings together complementary capabilities across the entire payments value chain, from technological infrastructure and Eurosystem connectivity to distribution and user experience.
The project will strengthen the participating institutions' ability to develop new payment solutions that are more agile, secure and aligned with the needs of citizens, businesses and merchants.
Selection by the Eurosystem recognises the innovation, collaboration and execution,capabilities of the organisations participating in the pilot, positioning them at the forefront of next-generation payment solutions.
The digital euro is one of the most significant initiatives launched by the Eurosystem to strengthen monetary sovereignty and the competitiveness of the euro area’s financial system, foster innovation in payments and provide a digital alternative to cash. . Its primary objective is to ensure that citizens and businesses continue to have access to central bank money in an increasingly digital environment, addressing the evolving needs of the European economy.
In the current phase of the project, the Eurosystem plans to conduct beta testing in a production environment to validate functionalities, operational processes and user experience. During this phase, various use cases will be assessed, including person-to-person (P2P) payments, e-commerce payments and point-of-sale payments (P2B), as well as offline payment scenarios designed to evaluate the solution’s performance when users have no network connectivity. The pilot, expected to last approximately twelve months, is scheduled to begin in the second half of 2027 and will involve employees of Eurosystem central banks and merchants selected by those institutions.
The Eurosystem has selected the alliance formed by ABANCA, Ibercaja, Unicaja, Cecabank, Bizum and Deloitte to participate in this stage of the digital euro’s development, an initiative set to transform the European payments ecosystem and lay the foundations for a new generation of digital financial services.
Participation in this initiative reflects the commitment of the participating organisations to financial innovation and will enable them to contribute to the development of the digital euro and the future services associated with this new European infrastructure.
The selection recognises the strength of an alliance that brings together complementary capabilities across the entire payments value chain. The consortium includes three leading financial institutions with a strong presence in the Spanish market — ABANCA, Ibercaja and Unicaja; Cecabank, a European provider of financial infrastructure, wholesale payment services and specialised technology solutions for the financial sector; Bizum, a leading national and international digital payments platform and one of the most widely adopted instant payment initiatives in Europe; and Deloitte, a global leader in financial transformation.
Together, these organisations form a unique ecosystem capable of supporting the end-to-end development of the digital euro. ABANCA, Ibercaja and Unicaja will contribute their customer insight, distribution capabilities and extensive experience in providing financial services to millions of customers. Bizum will bring its expertise in digital payments and its ability to deliver simple, secure, reliable and widely adopted user experiences. Cecabank will provide the technological infrastructure and integration capabilities required to connect with the Eurosystem’s digital euro platform, reinforcing its position as a leading European provider and the financial sector’s one-stop shop for payment services. Deloitte will contribute its international perspective on the evolution of payment methods and the development of central bank digital currency (CBDC) initiatives.
The combination of these capabilities will enable the consortium to address all aspects of the pilot in a comprehensive manner and contribute to the validation of the digital euro’s technical and operational features. In doing so, the participating organisations will strengthen their contribution to the development of a more competitive, efficient and sovereign payments infrastructure for Europe, while advancing innovative and secure solutions for citizens, businesses and merchants.
