Digital euro pilot: known facts and limits

Short answer

The digital euro pilot is a planned 12-month test of a "beta digital euro" starting in the second half of 2027. It involves 36 selected payment service providers, Eurosystem central bank staff as users, and selected merchants. It is not open to the public, the beta money has no legal tender status, and running it is not a decision to issue.

What is the digital euro pilot, and what is it not?

The pilot is what the Eurosystem calls a limited practical exercise: a way to learn how a digital euro could work in everyday situations and to check technical, operational and user readiness before any decision to issue. ECB pilot FAQ The ECB describes the aim as checking that the system is robust, user-friendly and scalable in real situations such as paying in a shop or sending money to another person. ECB pilot page

It helps to be precise about what the pilot is not:

• It is not a launch. The digital euro has not been issued. The ECB says it will only decide on issuance after the EU Regulation establishing the digital euro has been adopted, and that the pilot does not pre-empt that decision. ECB pilot FAQ
• It is not the digital euro itself. The pilot uses a "beta digital euro" that is functionally and technically close to the digital euro foreseen in the draft legislation but has no legal tender status (explained below). ECB press release, 14 July 2026
• It is not open to the public. Individual users are staff of the participating Eurosystem central banks. Merchants take part only if selected and contracted. ECB pilot FAQ
• It is not the ECB's innovation platform. The separate innovation platform invites market participants to experiment with features such as conditional payments and electronic receipts. It has its own call and deadline; see our page on the ECB innovation programme.

For the overall concept of the digital euro, start with our digital euro overview. For how the pilot fits into the legislative and issuance timetable, see the digital euro timeline.

The pilot at a glance

What is the "beta digital euro" used in the 2027 pilot?

Searches for a "digital euro beta" usually mean this instrument, so it is worth being exact. According to the pilot FAQ, the beta digital euro is a liability of the Eurosystem for the duration of the pilot. It is not a banknote, not a coin and not an account held directly with the ECB, and the ECB stresses that it is not the same thing as the digital euro foreseen in the draft Regulation. ECB pilot FAQ

The FAQ also fixes several design simplifications for the pilot:

There is no "public beta". Nobody outside the participating central banks' staff can open a beta account, and any website offering one is not acting for the ECB (see the scam section below).

Who are the ECB digital euro pilot participants?

Payment service providers

The Eurosystem announced its intention to invite PSPs on 28 November 2025 and issued a call for expressions of interest in March 2026, which closed on 14 May 2026. More than 50 PSPs applied, and the ECB selected 36, aiming for broad representation across business models, size and geography. ECB news, 28 November 2025; ECB pilot FAQ Applicants were notified of the outcome at the end of June 2026; the public announcement followed on 14 July 2026, and the press release was updated on 15 September 2026 with an annex listing the selected providers. ECB press release

The selected providers take one or both of two roles:

• Distributing PSPs give Eurosystem staff access to beta digital euro services, such as opening a beta account and making payments.
• Acquiring PSPs serve selected merchants so that they can accept beta digital euro payments.

The ECB adds that selected PSPs may serve customers in countries other than the one where they are established.

The 36 digital euro payment providers: full list by country

The table below groups the 36 providers by the "PSP application country" given in the ECB's annex. We have only regrouped the annex; check the original annex for any later change. The annex does not say which provider takes the distributing role, the acquiring role or both.

Two observations from our own count. First, the mix is broad: large banking groups sit next to card acquirers, payment institutions and app-based providers such as Stripe, SumUp, Adyen and Revolut. Second, three of the 19 pilot locations (Belgium, Estonia and Latvia) have no provider listed with that application country. Because PSPs may serve customers across borders, this does not by itself mean those locations lack a provider; the ECB pages we reviewed do not publish a provider-by-location map.

Individual users

The individual end users are staff of the participating Eurosystem central banks. They must be, or become, customers of a pilot PSP. ECB pilot FAQ The ECB has not published how many staff members are expected to take part. Banka Slovenije, for example, says its employees will test the beta digital euro in everyday situations such as person-to-person payments and purchases of services inside the central bank, with Nova Ljubljanska banka as its provider. Banka Slovenije, 14 July 2026

Merchants: how the digital euro merchant pilot works

There are two routes for merchants:

• The ECB call for e-commerce and m-commerce merchants. Published on 15 September 2026, it closed at 17:00 CET on 27 October 2026. The ECB assesses applications against eligibility requirements and weighted criteria covering market reach, operational readiness and suitability; selected merchants are invited to sign a participation agreement with the ECB and must establish or adapt a contract with an acquiring pilot PSP. ECB news, 15 September 2026 Screening is under way, with results expected by early 2027. ECB pilot page
• Local merchants identified by national central banks. The same announcement says national central banks may recruit additional local merchants through separate calls. The July 2026 press release mentions merchants offering everyday services on central bank premises, such as cafeterias and restaurants. ECB press release The first such call we have found is from the Deutsche Bundesbank: published on 9 October 2026, it invites in-store retailers with a registered office or establishment in Germany to run a controlled sales outlet on a Bundesbank property, where real purchases are made with the beta digital euro, for the whole pilot or for at least three months. Expressions of interest are due by 17:00 CET on 20 November 2026. Deutsche Bundesbank call, 9 October 2026 (in German)

The pilot FAQ adds conditions for the online route that general coverage rarely reports: ECB pilot FAQ

The ECB held an online information session for merchants on 6 October 2026, and a recording is available on the pilot page. ECB pilot page The FAQ also makes clear that the merchant contract with the ECB is a pilot-only arrangement: in any future digital euro, merchants would deal with it through their payment providers, not with the ECB.

Central banks and locations

The pilot runs at the ECB and 19 national central banks: Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland. ECB press release The euro area has 21 members, so two are not on that list: Bulgaria, which adopted the euro on 1 January 2026 (ECB), and Malta. The Central Bank of Malta states that it will take part as an observer. Central Bank of Malta The ECB pages we reviewed do not explain the selection of locations.

Infrastructure providers

On 30 October 2026 the ECB announced the network service providers that will connect participating PSPs and national central banks to the digital euro service platform. The first-ranked provider, a grouping of Nexi Payments and Deutsche Telekom Business Solutions, has had a contract in effect since 28 September 2026, initially covering connectivity for the pilot. The second-ranked grouping, of Telefónica entities and Indra, starts in May 2027. ECB news, 30 October 2026

What exactly will the pilot test?

The pilot FAQ lists four use cases: ECB pilot FAQ

A few details from the FAQ are worth highlighting because they are rarely mentioned in general coverage.

• Offline payments are a real test component. Users load funds onto a device in a way the ECB compares to withdrawing cash from an ATM, and funds received offline can be spent again offline. A secure element protects stored value, and the ECB supplies the software that prevents double-spending, delivered through an SDK for Android and iOS. Moving funds back off the device requires a connection.
• Holding limits will apply. If a predefined limit would be exceeded, funds can be moved automatically ("defunded") to a linked commercial bank account. The amounts have not been communicated.
• Refunds are linked to the original payment. Refunds are paid in beta digital euro through the acquiring PSP and must be linked to a settled transaction. The FAQ distinguishes two references: an identifier generated by the Eurosystem platform for the original payment (used to link the refund inside the platform) and an end-to-end reference assigned by the PSP for tracking and reconciliation. It does not set out refund policy or timing.
• Familiar standards are the starting point. The candidate standards named in the FAQ are CPACE for NFC payments, the ISO 20022 data model and adapted API standards based on the Berlin Group data dictionary, all still subject to Eurosystem confirmation.
• Data protection follows existing law. PSPs must comply with applicable rules including the GDPR and the Payment Services Directive, and apply their existing data retention obligations unless instructed otherwise.

How the pilot is organised: a dated sequence

The pilot FAQ divides the work into a preparation phase in the first half of 2026, a development phase from the third quarter of 2026 and an operational phase from the second half of 2027 lasting 12 months. ECB pilot FAQ

How would a pilot payment work in practice?

The following walk-through combines details from the pilot FAQ into one illustrative journey. It is our simplification for readers, not an official flow diagram, and individual PSPs' apps will differ.

1. Onboarding. An ECB staff member who banks with, or becomes a customer of, a distributing pilot PSP opens a beta digital euro account in that PSP's app. During the pilot they hold or open a commercial bank money account with the same PSP.
2. Funding. They move money from that commercial account into the beta account. Behind the scenes, the Eurosystem central bank issues beta digital euro when it receives funds from the PSP; national central banks handle the liquidity side for their PSPs.
3. Paying a merchant. At a staff cafeteria that has been onboarded by an acquiring PSP, the user taps their phone on the merchant's SoftPOS device. The payment is processed online and confirmed to both sides.
4. Paying a colleague offline. Later, with no network signal, the user taps phones with a colleague to transfer a small amount. The value moves between secure elements on the two devices.
5. Staying within the limit. If an incoming payment would push the balance above the pilot holding limit, the excess can be defunded automatically to the linked commercial account.
6. A refund. If the cafeteria refunds an item, the refund references the platform identifier of the original payment so the two can be linked, while the PSP's own end-to-end reference lets each side trace and reconcile it.
7. No fees. The PSP does not charge the user or the merchant for these pilot services.

What this example shows is that, even in a test, a merchant receives payment events from its acquiring PSP, not from the ECB. That is also how merchants would interact with a real digital euro, if issued: through their payment providers. For businesses, the practical questions are the familiar ones of identifiers, refunds and matching payments to sales, which we discuss in our guide for businesses.

Digital euro pilot application: can my business still join?

The ECB's merchant call closed on 27 October 2026, and the FAQ states that late applications and later amendments are not accepted. For most businesses the answer today is therefore no. There are three caveats.

• National central bank calls. The ECB said national central banks may recruit additional local merchants through separate calls. As of 5 November 2026 the only one we have found is the Deutsche Bundesbank's call for in-store merchants in Germany, open until 17:00 CET on 20 November 2026 and limited to selling on a Bundesbank property (see above). The ECB pilot page does not list national calls, so check your own national central bank's website.
• Through a selected PSP. Merchants in the pilot need a contract with an acquiring pilot PSP. If your existing acquirer is on the published list, it may be able to tell you about its plans, but only the ECB or the relevant central bank selects merchants.
• The innovation platform is different. The ECB's innovation platform call, open until 9 November 2026 at 17:00 CET, is for experimentation and exploration work such as conditional payments, split payments and electronic receipts, not for pilot merchant participation. ECB innovation platform

Before applying for anything, weigh the cost. Participation is voluntary and unpaid, and the ECB says expenses are not reimbursed. ECB news, 15 September 2026 For a small business, the main value is early experience, not revenue.

What to do instead if you are not in the pilot

1. Note the dates that matter to you: merchant results by early 2027 and the operational start in the second half of 2027. Our news page tracks announcements.
2. Map your current payment flows: which methods you accept, how refunds are recorded, and how each payment is matched to an order or invoice.
3. Keep identifiers. The pilot carries two references per payment: a platform identifier that links refunds and a PSP end-to-end reference for tracking and reconciliation. Systems that already store provider transaction references alongside order and invoice numbers adapt more easily to any new payment method.
4. Ask your acquirer whether it is a pilot PSP and how it plans to share lessons with clients.
5. Improve what you already have. If matching bank receipts to invoices is still manual, improving that process with current euro payments delivers value now. Our reconciliation product works with today's bank data and has no connection to the pilot.

What the pilot will and will not tell us

Most coverage of the pilot stops at the number of providers. A more useful question is what kind of evidence a pilot of this design can produce, and where its limits are. The points below are our assessment based on the published design.

What it should show well:

• Whether the end-to-end chain works. Distribution, acquiring, central bank settlement and network connectivity will run together for the first time with real participants.
• Offline technology under real conditions. Secure elements, the anti-double-spending software and the defunding process will face actual devices and users.
• Merchant integration effort. SoftPOS in shops and payment journeys in e-commerce checkouts will show how much work acceptance takes, and where friction appears.
• Operational processes for PSPs. Onboarding, liquidity, holding-limit handling and customer support.

What it is less able to show:

• Public adoption. Users are central bank staff, who are not representative of the wider population in age, digital skills or attitudes to the project.
• Commercial economics. Pilot PSPs may not charge fees, and participants are not paid. Pricing and business models under the final law will not be tested.
• Behaviour under the final law. The beta digital euro mirrors the draft legislation. If the final Regulation changes offline limits, holding limits or the operating model, some findings will need reinterpreting.
• Coverage of every country. The pilot runs in 19 national central bank locations, not in every euro area country.
• Scale. The ECB describes the pilot as limited; it is not a stress test of nationwide volumes.

The ECB says the pilot will gather evidence to inform future decisions and that updates will be communicated. ECB pilot FAQ It has not, in the material we reviewed, committed to publishing a final pilot report with defined metrics. Readers should therefore watch for what is published, and how, rather than assume detailed results will appear.

Beware of pilot scams

The ECB has warned that fake emails, letters and websites are inviting people to invest in the digital euro or to join the pilot. It states that it never asks for investments, money or personal information, and advises victims to contact the police. ECB pilot page Since the public cannot join the pilot at all, any offer of "early access" is a red flag. The same applies to businesses: merchant selection is done by the ECB or a national central bank and is unpaid, so nobody should charge you a fee to "register" for the pilot.

What is still uncertain

As of 5 November 2026, these points are not settled in the primary sources we reviewed:

• The exact start date within the second half of 2027.
• The number of merchants and staff users. Neither figure has been published.
• Which merchants are selected. Results are expected by early 2027.
• Holding limit amounts in the pilot. To be communicated closer to the start.
• Whether other national central banks will run their own merchant calls, and when. Only the Bundesbank's call had been published when we checked.
• The exact end-of-pilot procedure. The FAQ says users are offboarded from their beta accounts when the pilot ends, but does not give a timetable for that process.
• Which provider serves which location. The annex lists application countries, not where each PSP will offer pilot services or in which role.
• Whether and how results will be published.
• How the final legislation will affect the pilot design. The trilogue negotiations on the Regulation are still under way; see our timeline for the legislative status.
• Reasons for the choice of pilot locations. Not explained in the sources we reviewed.

Frequently asked questions

When does the digital euro pilot start?

The ECB plans to start the operational phase in the second half of 2027 and run it for 12 months. No exact start date has been published. ECB pilot page

Can I take part in the digital euro pilot as a private individual?

No. Individual users in the pilot are staff of the participating Eurosystem central banks. Anyone offering the public a place in the pilot is not acting for the ECB. ECB pilot FAQ

Is the money in the pilot real?

Participants move real funds from a commercial bank account into the beta digital euro, which is a liability of the Eurosystem during the pilot. But it is a beta instrument with no legal tender status, distinct from the digital euro foreseen in the legislation. ECB press release

Which banks and payment providers are in the pilot?

The ECB selected 36 PSPs, including banks and non-banks, from 16 application countries; Italy (7) and Germany (5) have the most. The full list is in an annex to its 14 July 2026 press release, and we reproduce it grouped by country above.

Is the merchant application still open?

No. The ECB call for e-commerce and m-commerce merchants closed on 27 October 2026, and results are expected by early 2027. National central banks may run separate local calls: the Deutsche Bundesbank's call for in-store merchants in Germany is open until 17:00 CET on 20 November 2026. ECB news, 15 September 2026

Does a successful pilot mean the digital euro will be issued?

No. The ECB states that the pilot does not pre-empt a decision. Issuance requires the EU Regulation to be adopted and a subsequent Governing Council decision. ECB pilot FAQ

Which countries take part in the digital euro pilot?

The ECB and 19 national central banks. Of the 21 euro area countries, Bulgaria and Malta are not among the pilot locations; the Central Bank of Malta says it will observe. Offline person-to-person payments via NFC are tested in the pilot alongside online use cases. ECB press release

Do merchants pay fees in the pilot?

Pilot PSPs may not charge participating end users, including merchants, for pilot payment services. Merchants are not paid either, and their own costs are not reimbursed. ECB pilot FAQ

Sources

• ECB – Digital euro pilot (accessed 5 November 2026)
• ECB – Digital euro pilot FAQs (updated 28 October 2026) (accessed 5 November 2026)
• ECB press release – ECB selects 36 payment service providers to join digital euro pilot, 14 July 2026 (updated 15 September 2026) (accessed 5 November 2026)
• ECB – Annex: list of PSPs selected for the digital euro pilot (accessed 5 November 2026)
• ECB news – Eurosystem to invite payment service providers to participate in digital euro pilot, 28 November 2025 (accessed 5 November 2026)
• ECB news – Merchant pilot invitation, 15 September 2026 (accessed 5 November 2026)
• ECB news – Selection of digital euro network service providers, 30 October 2026 (accessed 5 November 2026)
• ECB press release – Eurosystem moving to next phase of digital euro project, 30 October 2025 (accessed 5 November 2026)
• ECB – Digital euro innovation platform (accessed 5 November 2026)
• ECB – FAQs on the digital euro (updated 17 August 2026) (accessed 5 November 2026)
• Deutsche Bundesbank – Aufruf zur Interessenbekundung: Teilnahme stationärer Händler am Pilotprojekt zum digitalen Euro, 9 October 2026 (in German) (accessed 5 November 2026)
• Central Bank of Malta – Digital euro pilot (accessed 5 November 2026)
• Banka Slovenije – Digital euro pilot project to run at Banka Slovenije in collaboration with a commercial bank, 14 July 2026 (accessed 5 November 2026)
• ECB press release – Bulgaria introduces the euro, 1 January 2026 (accessed 5 November 2026)