ECB signs standards deals to cut digital euro access costs

ECB teams with ECPC, nexo and Berlin Group to reuse open payment standards, cutting digital euro integration costs and clearing the path to a 2027 pilot, 2029 launch.

The European Central Bank (ECB) has signed agreements with three European standards bodies to reuse existing open technical specifications for processing digital euro payments, in a bid to lower integration costs and accelerate adoption across the euro area. Under the deals, European Card Payment Cooperation (ECPC), nexo standards, and the Berlin Group will align their frameworks so that payment providers can support digital euro transactions without expensive, bespoke upgrades to point-of-sale terminals and online systems.

The standards in scope include ECPC’s CPACE protocol for tap‑to‑pay near-field communication, nexo’s ISO 20022‑based acceptance specifications, and Berlin Group’s open interfaces for account-to-account and card-based payments. By building the digital euro on top of these existing rails, the ECB wants to offer “a European free alternative to current proprietary standards” dominated by global card schemes and digital wallets, according to Executive Board member Piero Cipollone. “The open digital euro standards will provide a European free alternative to current proprietary standards, make it easier for new European providers to enter the market and give European payment service providers and merchants the certainty they need to invest, innovate and compete across the euro area,” Cipollone said.

ECB targets cheaper rollout for banks and merchants

The ECB argues that reusing open standards should minimize scheme and implementation costs at a time when banks face multibillion‑euro IT bills to adapt to a potential central bank digital currency. Earlier estimates cited by Reuters suggested a digital euro rollout could cost European banks between €4 billion and €6 billion over four years, or roughly 3% of their annual IT maintenance budgets, underscoring why avoiding custom builds matters for political buy‑in.

Ana Grade, CEO of ECPC, called the deal “a major step” for her consortium’s CPACE standard, saying it will “further enhance the standard’s visibility and market presence” as part of the digital euro project. Jean‑Philippe Joliveau, chairman of nexo standards, added that the cooperation “confirms the position of nexo standards as an international and collaborative standardisation body for payment acceptance, supporting interoperability across the payments ecosystem.”

Next steps toward a 2029 launch

The agreements land as EU lawmakers work to finalize the digital euro regulation, which is expected to be adopted in 2026 and unlock full-scale investments by payment firms. The ECB has said it plans to publish the complete technical standards by this summer, with a 12‑month pilot focused on person‑to‑person and point‑of‑sale payments scheduled from the second half of 2027 and potential issuance readiness around 2029 if the legal framework is approved.

Officials frame the digital euro as a way to strengthen Europe’s monetary sovereignty and reduce reliance on non‑European payment giants such as Visa, Mastercard, and PayPal, while giving merchants access to a low‑fee, publicly backed payment option alongside cash and bank deposits. “This partnership shows our strong commitment to making sure the digital euro works with existing European standards that the private sector can also use,” Cipollone said, arguing that early standardization is key to a smooth rollout.