Fintech heavyweight Diebold Nixdorf has been chosen by the European Central Bank (ECB) as one of 70 private sector contributors to its digital euro innovation platform, as the central bank continues to research and explore potential payment functionalities and use cases of a digital euro.
Through the collaboration, Diebold Nixdorf says it will integrate its cloud-native payments processing solution, Vynamic Transaction Middleware, with digital euro interfaces to enable banks to “quickly support new services, from traditional card transactions to instant payments”.
The Vynamic solution enables financial institutions to deploy new payment methods without reconstructing existing backend systems across ATM, e-commerce, and point-of-sale channels. Leveraging smart routing, graphical interfaces and low-code modelling, the technology consolidates traditional card transactions, real-time payments, and digital wallets within a single cloud-based architecture.
According to Joe Myers, global head of banking at Diebold Nixdorf, this initiative aims to “help our banking customers easily offer the digital euro as a new means of payment in the future”.
The ECB plans to publish findings from these collaborative workstreams in a report later this year. The central bank first announced its digital euro innovation platform in May and previously partnered with UK blockchain software firm Fluency to test the offline and programmable functionality of the digital euro.
The digital euro is intended to function as digital cash universally accepted throughout the EU. The project remains in its preparation phase until October 2025, after which the decision to issue a digital euro will only be considered once the European Union completes its legislative process.
Source: https://www.fintechfutures.com/
