ECB Finalizes Open Standards for Digital Euro, Sidelining Visa and Mastercard

The ECB has confirmed agreements with ECPC, nexo standards, and Berlin Group to adopt open payment standards—CPACE for NFC tap-to-pay, nexo for merchant connectivity, and Berlin Group APIs used by 80% of the European market—for the digital euro, aiming to cut costs and reduce reliance on Visa and Mastercard. This builds on April 24 announcements of deals to slash bank integration expenses estimated at €4–6 billion over four years, with projections ranging from €1.12 billion plus €2.62 billion in the launch year to €18 billion total. A 12-month pilot is set for H2 2027 pending EU approval, with short-term EURUSD impact limited but long-term euro efficiency supportive.