ECB Picks Almaviva and Fabrick to Develop Digital Euro App
The European Central Bank has chosen Almaviva and Fabrick to develop the official digital euro app for the App Store. The four-year contract, extendable up to ten years, aims to create a user-friendly, secure, and inclusive digital payment experience across the EU.
The digital euro app will be accessible via smartphone, tablet, or smartwatch, offering a uniform payment experience across the euro area. It will simplify transactions, enhance safety, and boost financial inclusion.
The contract's initial duration is four years, with a possible extension up to ten years, and has a maximum value of approximately €153 million. Almaviva and Fabrick will develop the app and SDK, while also creating the technical infrastructure and gradually rolling out various use cases. The first two years will focus on development and use case rollout, followed by two years of completion and stable operation. The project also includes developing an open and interoperable infrastructure with dedicated SDKs and APIs for European Payment Service Providers.
The digital euro app, set to launch in the coming years, promises a seamless, secure, and inclusive digital payment experience for EU citizens. With Almaviva and Fabrick at the helm, the project aims to strengthen the euro's role in the digital age.
Read also:
- Saudi Arabia's TASI Surges Past 11,000, Leading Gulf Equities Rally
- TikTok's deal negotiations continue following a conversation between Xi and Trump
- Trump announces agreement with Chinese authorities on TikTok deal
- Quantum Computing Market in the Automotive Sector Forecast to Expand to $6,462.13 Million by 2034
