The EU’s central bank is preparing a digital euro to cut dependence on Visa, Mastercard and Apple Pay. Success hinges on giving consumers an easy-to-use payment system without prompting a flight from bank savings.
  • Pip@feddit.orgOPEnglish
    21·
    12 days ago

    Well, Trump can turn off MasterCard and Visa for Europeans. So the digital euro helps with that because it is an alternative payment method. But also generally it is good to have a backup for other commercial payment systems that can fail (just like it is good to have some cash as a backup).

    Another benefit is that poor people who cannot get bank accounts can pay digitally with the digital euro.

    And then there’s the convenience. Compared to paypal, credit cards, Wero, the digital euro will be faster, cheaper (no fees) and simpler to use.