Among other things, the ECB wants to develop a prototype for the digital “e-euro” with the tech giant Amazon. The private company Amazon is particularly in demand for expertise in e-commerce payments. That comes from one press release from the Central Bank on September 16th. Furthermore, four other fintechs and e-commerce companies are said to be involved in the development.
According to the ECB, these include the Spanish CaixaBank, the Italian fintech company Nexi, the French payment service provider Worldline and the “European Payments Initiative” (EPI).
In April, the ECB launched one call to apply for the project. A total of 54 applications were received from various front-end providers. Each of the selected organizations is now working with a team from the ECB on specific use cases of the digital euro:
- Ecommerce Payments – Amazon
- Peer to peer online payments – Caixa Bank
- Peer to Peer Offline Payments – Worldline
- Point of Sale Payments by Sender – EPI
- Point of sale payments by recipient – Nexi
The aim of the prototype is to determine “how well the technology behind a digital euro can be integrated with other prototypes from the company,” according to the ECB’s statement. The institution expects the first results “in the first quarter of 2023”.
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