Digital euro (official page)

A digital euro would not just ensure people can access central bank money in the digital age, it would also offer the best possible user experience, digital euro programme director Evelien Witlox told FF News | Fintech Finance. 🔗 Check out the full interview here https://lnkd.in/eTzeEr6q

To maintain financial stability, the amount of digital euro people would be able to hold would be limited. This is to ensure that the currency is used as a means of payment rather than a form of investment. It would also prevent too many deposits being withdrawn from banks. Working with national central banks and other national institutions, we have started developing a methodology for calculating these holding limits. The exact threshold would be set closer to the time of issuance. Holding limits would not lead to transaction limits for consumers. Users would have the option to link their digital euro wallet with a commercial bank account, allowing them to use their digital euro wallet to make payments beyond the holding limits, without having to pre-fund them. 🔗 To find out more, check out our latest progress report https://lnkd.in/eTfZv-7p

We know privacy is very important to you. That’s why it’s important to us as well. Watch this video to find out how a digital euro would guarantee your privacy and protect your personal data when you pay, providing higher privacy standards than current digital means of payment. 🔗 Visit our new webpage on digital euro privacy for more information https://lnkd.in/eEbH2jZf

As Europeans, we can sometimes use national payment options, such as bank cards or digital wallets, to make electronic payments. But in most euro area countries these national solutions do not exist, explained ECB Executive Board member Piero Cipollone at an event organised by the Central Bank of Cyprus. This leaves people with no choice other than to use non-European cards or electronic payment solutions. 📽 Watch this video clip for an example of how a digital euro could remedy this situation. 🔗 For more information https://lnkd.in/ed-y43x9

🎥Watch live: digital euro project’s director Evelien Witlox and adviser Alessandro Giovannini meet with European civil society organisations to discuss the progress made in the past months and key digital euro design features. These features, which include a unique privacy level and an offline function, will ensure that a digital euro would be widely accepted and accessible to everyone in the euro area. These seminars are an opportunity for us to engage with representatives of European citizens, hear their views and opinions and answer their questions. 🔗Watch the seminar live https://lnkd.in/dWGsjCR3 ❓Ask us a question via Slido https://lnkd.in/dsiv__UK

Limited network coverage? With a digital euro you’d still be able to pay. ✔ Offline payments: You would be able make payments even in remote locations or during outages. For instance, you wouldn’t need to use your mobile data to pay a friend if your phones are close to each other.   💡 Privacy by design: When paying using the offline function, only the payer and the payee would be able to see personal transaction details. Using digital euro would make your online and offline payments easy and secure, ensuring accessibility and financial inclusion for everyone.   🔗 Check out the progress report https://lnkd.in/eTfZv-7p to learn more!  

❔ How would a digital euro work? What added value would it bring? How is the privacy of my payments protected? 💡 We have the answer to all your questions. 🔗 Check out the latest updates https://lnkd.in/emj5snpk

How is the digital euro project progressing? Since the project was launched in 2021, we’ve been hard at work designing a digital euro that makes it easier to pay in the euro area. At the moment, we’re focusing on laying the technical foundations for the development and potential launch of a digital euro. At the end of next year, the ECB’s Governing Council will decide whether to move to the next phase of the project, taking into account the outcome of discussions about the digital euro legislative framework currently under consideration by European legislators. Swipe ➡ to read about the project’s progress! Read the latest digital euro progress report to know more https://lnkd.in/eXi6JMiz

“A digital euro would combine the convenience of digital payments with cash-like features, bringing Europeans closer in an increasingly digital and unstable world.” Alessandro Giovannini digital euro project adviser at the European Central Bank, spoke recently at an open forum event on a digital euro, organised by the Oesterreichische Nationalbank and attended by consumer representatives and experts from the world of finance and technology. 🔗 Check out our updated digital euro FAQs for more information on the project https://lnkd.in/dC2qNKej (available in all EU languages)

Happy International Day of Micro, Small and Medium Enterprises! In Europe, businesses of all sizes accept cash. But when it comes to electronic payments, high costs can prevent smaller businesses from accepting digital payment methods such as credit cards.   The good news: accepting payments in digital euro would be cheaper for all businesses. By law, there would be a cap on fees payment providers could charge. Plus, the Eurosystem would cover some of the costs related to digital euro payments, lowering the fees charged by payment service providers. Businesses would also be able to easily integrate digital euro payments into their e-commerce platforms, providing a user-friendly solution with acceptance of payments from customers across the euro area. 🔗 Find out more in the presentation by Piero Cipollone at the EuroCommerce CEO Summit https://lnkd.in/ePrYrVqg