The European Central Bank (ECB) has signed a framework agreement with security technology firm Giesecke+Devrient (G+D) and its partners Nexi and Capgemini to deliver offline payment capabilities for the digital euro.
The trio, led by Munich-based security firm G+D, ranked first among tenderers for the contract to design, implement and partially operate the system that will allow users to make digital euro payments without internet or power connections.
Offline functionality has been positioned as a defining feature of the digital euro. From the outset, the ECB has emphasized that a central bank digital currency must provide privacy and resilience comparable to cash.
Payments under the offline model are stored directly on user devices such as smartphones, cards or other compatible tools, and are settled locally between devices without passing through banks, payment providers, or the central bank itself.
According to the ECB, this structure ensures transactions remain private and reliable, extending the reach of the euro in digital form while preserving the characteristics of physical cash.
The digital euro is also intended as a complement to banknotes and coins, available to anyone across the euro area and functioning as a universal means of payment.
“We are proud to lead this pan-European cooperation, working together with our partners Nexi and Capgemini to bring the digital euro’s offline capabilities to life,” said Dr. Wolfram Seidemann, CEO of G+D Currency Technology. “This milestone underscores our commitment to innovation and security in digital payment solutions while preserving the privacy and resilience that citizens expect from cash.”
Under the new agreement, G+D and its partners will work with the ECB to finalize the design, integration and development of the Digital Euro Service Platform (DESP). The Governing Council of the ECB will oversee the process in line with European legislation, ensuring the solution is consistent with current monetary and financial policy goals.
G+D brings longstanding expertise in currency technology and security systems to the project. Its partners, Nexi and Capgemini, will contribute specialized knowledge in payment infrastructure and technology integration.
Nexi, a major European payments company, is tasked with ensuring that the digital euro integrates seamlessly with existing point-of-sale systems.
Capgemini on the other hand will support development and testing of the offline interfaces, drawing on its background in technology consulting and digital transformation.
The digital euro project remains in its preparation phase. The ECB will spearhead the evaluation of technical solutions, legal frameworks and user experience considerations before any decision on issuance is made.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.