European Central Bank sets out first minimum user experience requirements and advances digital euro scheme rulebook specifications

The European Central Bank published the outcome of the 22nd meeting of the Digital Euro Scheme Rulebook Development Group, summarising progress on the digital euro scheme rulebook and related implementation specifications, including an updated rulebook workplan and timeline. The first series of minimum user experience requirements was presented under a new methodology, split between user-journey-specific and generic requirements, with some requirements described as mandatory for payment service providers and others optional. Work also progressed on high-level considerations for the scheme adherence model, a scenario-based analysis of payment instrument risks under the risk management workstream, and an interim report on brand rules covering market standards and digital-euro-specific considerations. On implementation specifications, the front-end workstreams identified areas to improve consistency with other parts of the rulebook and the ECB announced a new implementation specification document on data management, while the back-end workstream’s third sprint covered specifications for settlement, fraud risk management, dispute management and data exchange services. The group was invited to provide feedback on the minimum user experience requirements. Members also agreed to an initial review of ECB slides on foreseen interactions between the digital euro service platform and TARGET2 (T2), with the option to organise a dedicated session, and the ECB indicated it would publish a revised outcome from the previous meeting after incorporating feedback.