Consumers will be able to use the digital euro without needing entirely new systems. This means banks and payment providers won’t have to pay certain scheme and processing fees, and merchant charges will be capped.
That could make payments cheaper and faster for everyone.
Source: ecb.europa.eu
More importantly, the digital euro will run on a shared European acceptance network. This means private payment providers can offer digital euro services across the region without building separate infrastructure.
Stablecoins are seen as the biggest disruptor…
…but the ECB says they’re not the only risk.
Banks face growing competition from private payment platforms and global card networks like Visa and Mastercard, which dominate much of Europe’s payment infrastructure.
Cipollone noted that a digital euro could help rebalance this power and strengthen local systems such as Bancomat and Bizum.
“The digital euro will effectively favor domestic payments schemes.”
Final Summary
- The ECB’s digital euro plans put Europe on track for a 2029 launch.
- The digital euro could change the way European payment markets work.
