Overview
- the European Central Bank, which signed the agreements Friday, will base its planned central bank digital currency on open European payment standards from ECPC, nexo standards and the Berlin Group.
- The plan reuses CPACE for tap-to-pay NFC, nexo’s ISO 20022 acceptance rules for payment terminals and ATMs, and Berlin Group APIs for account transfers and payments sent using phone numbers or other aliases.
- By building on existing rails, the ECB says banks and merchants can avoid costly bespoke upgrades, addressing Reuters-cited rollout costs of €4–6 billion over four years.
- The roadmap calls for full technical standards by summer 2026 and a 12‑month pilot from the second half of 2027, with potential issuance readiness around 2029 if the legal framework is adopted.
- Officials say open standards could reduce reliance on Visa, Mastercard and big wallets, giving European providers a way to scale across borders using today’s terminals once the digital euro has legal tender status.