The European Central Bank (ECB) has tasked a business alliance led by Giesecke+Devrient, in collaboration with payment service provider Nexi and Capgemini, with developing a comprehensive offline payment solution for the digital euro. This project will be directed by the ECB’s Governing Council, aligning with EU legislation, and will involve the design, integration, and development of the Digital Euro Service Platform (DESP). The intention behind the digital euro is to provide citizens with greater freedom of choice when making digital payments, making it universally accessible at any time and place within the eurozone.
This system permits users to store money directly on compatible devices, such as smartphones and cards, leveraging their security elements. By enabling local payment settlements between devices, it ensures transaction privacy equivalent to cash, as no details are recorded by banks or payment service providers. The development encompasses the design and implementation of the component and its integration into the overall digital euro architecture. The ECB aims to achieve offline payment capabilities without third-party involvement, which is a vital aspect of the digital euro, ensuring privacy and resilience even in environments lacking internet access or electricity. Following the framework agreement, G+D and its partners will collaborate with the ECB to finalize planning and timelines.
👉 Pročitaj original: CIO Magazine
