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Italy: Product Innovation & Market Development

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Italy is an active participant in Eurosystem digital-euro preparation (PSP applications for the pilot phase due 14 May 2026, pilot expected H2 2027) and in domestic public-sector digital infrastructure via the PagoPA platform, now 49%-owned by Poste Italiane. Open banking (MyBank, Bancomat Pay) and BNPL products continue to expand, with the latter facing incoming CCD II-driven regulatory tightening from November 2026.

Horizon · 2026-Q3 (± a quarter)Digital euro pilot development phase beginsAdopted · Tier 1 source
Horizon · 2027-Q3 (± six months)Digital euro 12-month pilot exercise expected to beginProposed · Tier 1 source
Standing sub-brief · as of 5 July 2026111 words · last cycle 2026-07-04

Product Innovation & Market Development

The ECB's digital euro pilot preparation phase opened its call for expression of interest on 5 March 2026, with payment service provider applications due 14 May 2026, selection notified end-June 2026, a development phase beginning Q3 2026, and a 12-month pilot exercise planned for H2 2027. The timeline determines the near-term participation window for Italian payment service providers in Eurosystem digital-euro infrastructure build-out, a strategically material product-development decision point.

no periodic updates on record for this sub-brief

Sources and findings (5)
  1. T1https://www.ecb.europa.eu/euro/digital_euro/pilot/html/ecb.faq-digital-euro-pilot.en.html Applies beyond this jurisdiction (EU)retrieved
  2. T3https://www.openbankproject.com/blog/the-digital-euro-infrastructure/ Applies beyond this jurisdiction (EU)retrieved
  3. T2https://one.oecd.org/document/DAF/COMP/WD(2025)36/en/pdf Applies beyond this jurisdiction (EU)retrieved
  4. T3https://www.globenewswire.com/news-release/2026/02/03/3230796/28124/en/Italy-Buy-Now-Pay-Later-Business-Report-2025-A-26-6-Billion-Market-by-2031-from-8-06-Billion-in-2025-Featuring-Klarna-Scalapay-Oney-PayPal-PagoLight-Nexi-Confidis-Deutsche-Bank.html Applies beyond this jurisdiction (EU)retrieved
  5. T1https://www.bancaditalia.it/compiti/vigilanza/index.html Applies beyond this jurisdiction (EU)retrieved