Nexi chosen by ECB to develop digital euro prototype for in-store payments
The European Central Bank has chosen Nexi, the European paytech leader, to develop a front-end prototype for making payments with digital euros.
After joining the call for expression of interest launched in April by the ECB as part of the digital euro investigation phase, Nexi has been appointed as one of the five companies, out of 54 respondents to the call, which will provide front-end prototypes to test different payment use cases.
In the coming months a dedicated, multi-disciplinary pool of Nexi experts will work closely with the European Central Bank digital euro project team, bringing Nexi’s high technological profile, proven track record and distinctive expertise in payment acceptance services to explore a front-end technical solution for digital euro payments at physical shops.
Since the beginning of the ECB investigation phase, Nexi has been involved in different working groups at a European level, with the aim of supporting ECB initiatives to design an efficient, inclusive and sustainable digital euro that can complement existing payment systems.
As the largest European spender in technology and innovation in the digital payments sector, with about 300 million euros of investments, Nexi can bolster the European Central Bank project for the digital euro. This will foster financial innovation and improve the overall efficiency of the retail payments system.
“We are proud to have been chosen to support the European Central Bank in such a strategic project for Europe,” said Roberto Catanzaro, chief strategy & transformation officer of Nexi Group and member of the Digital Euro Market Advisory Group. “We look forward to bringing the best of Nexi’s recognised know-how in the digital payments space and more specifically in Merchant solutions, to drive innovation in the European payment landscape”.