News and resources on payments systems, innovations and initiatives worldwide.

EPI contributes to CBDC prototyping exercise conducted by the European Central Bank

Source: EPI

EPI contributed to the prototyping exercise conducted by the European Cental Bank (ECB) to test how design choices for a digital euro could be implemented into existing European payments solutions.

EPI was selected in 2022 with four other companies, to test how well the technology behind a digital euro integrates with prototypes developed by companies and succesfully delivered in December 2022 a prototype on point of sale payments initiated by the payer. However, the prototype will be discarded for the next phases of the project to ensure a level playing field for the entire industry.

Specifically, EPI has developed:

Two mobile apps with two app backends, demonstrating the perspective of intermediaries offering payments with a digital euro to consumers and merchants.

QR codes as proximity technology to exchange payment request information.

Support for two payment use cases; one based on dynamic QR codes, and one based on static QR codes.

Integration with ECB’s settlement service, with full implementation of security/cryptography.

EPI is delighted with the opportunity and the trust confered and thanks the ECB for the fruitful cooperation during this excercise.

Comments: (0)