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