Electronic payment
For many (still) no option: a digital euro
Cash is still the first choice for people in the euro area at the cash register. Another digital payment method could be added in a few years. Not all consumers are convinced of this.
In Germany, there is still great skepticism about a digital euro: a fifth (22 percent) of 2,019 respondents would not use such an alternative to appearance and coin, according to its own statements, as a YouGov survey for management and technology consultancy showed BearingPoint.
Seven percent of the respondents in Germany would use a digital euro daily, 16 percent two to three times a week – especially when shopping on the Internet. So far, more than a third (36 percent) has not decided on this question.
Introduction at the earliest in a few years
For years, the currency keepers in the euro area have been working on a digital variant of the European Community Currency. With a digital euro, the Euro-Note banks want to counter private providers, especially from the United States, which are currently dominating the market for digital payments in Europe, a European digital payment offer.
At the end of 2025, the Council of the European Central Bank (ECB) will decide whether the next preparation phase will be initiated. An introduction of the digital euro should not be expected before the end of 2028, said Bundesbank board member Burkhard Balz, who is involved in the project in September.
Press page BearingPoint Law proposals EU Commission on Digital Euro and Cash 28.2023 website EZB on the subject of digital euro ECB: Questions and answers to the digital euro EZB decision 18.10.2023 Bundesbank an overview of projects for digital central bank money worldwide EU
dpa
Source: Stern
