CaixaBank European Central Bank – ESdiario

The European Central Bank has selected CaixaBank to collaborate in the development of the digital euro prototype, making the entity the only European bank to do so.

The institution has made a call to choose entities that develop technological projects associated with the creation of the European digital currency. In this way, CaixaBank will be responsible for making a prototype for P2P payments (between people) with the digital euro.

In this way, from this month of September and until the end of the yearCaixaBank will work on the development of a mobile application that simulates what a citizen will have to do when they want to load their digital euro account and pay and/or transfer to other people.

In April, the European institution launched a call for payment service providers and banks to join a prototyping exercise for customer-facing payment services. A total of 54 companies have submitted to the call, including from banking entities to multinational technology companies.

The other four companies selected together with CaixaBank for this phase (Worldline, EPI, Nexi and Amazon) will make prototypes for other use cases of the digital euro, such as P2P payments offlinepayments at the point of sale (with specific processes depending on whether they are initiated by the business or by the customer) or payments for e-commerce.

The ECB is currently investigating what the digital euro could look like. If a digital euro were to be issued, it would not replace cash or other existing means of payment, but rather complement them, becoming one more option for making payments, which would contribute to accessibility and financial inclusion.

With more than 11 million users of its digital banking, CaixaBank works every day to develop new models that allow it to respond to demands and needs of its customers. Currently, it is the leading entity in means of payment with a market share of 32.1% by turnover in stores and more than 3 million mobile payment customers.


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