Among the partners are Feedzai, an artificial intelligence—based fraud detection company, and Giesecke+Devrient (G+D), which will lead the design and development of the digital Euroservices (DESP) platform. DESP will inсlude secure messaging, alias search for payments, and offline transaction capabilities.
Dr. Ralf Winterhurst, CEO of G+D, stated that the collaboration will focus on finalizing the project development and integration planning under the guidance of the ECB Governing Council. The estimated cost of the project is 79.1 million euros, and the potential limit is 237.3 million euros.
The European response to the dominance of the dollar
The digital euro should reduce Europe’s dependence on the American payment systems VISA, Mastercard and PayPal.
