The European Central Bank highlights the importance of physical stores accepting digital currency. “People expect [...] to use the digital complement to banknotes wherever they can pay digitally or online”, said ECB’s executive board member Fabio Panetta.
Fabio Panetta, an executive board member of the European Central Bank, said focus groups exploring the potential rollout of a digital euro hinted the ability to use the digital currency at online and physical stores could be a key feature.down the findings of ECB focus groups on digital payment methods commissioned in September 2021, which suggested people were more likely to accept a digital euro accepted in physical and online stores and allowed easy person-to-person payments.
“The introduction of euro banknotes made it possible for us to pay with physical euros anywhere in the euro area,” said Panetta. “So it is no surprise that people expect to be able to use the digital complement to banknotes wherever they can pay digitally or online.”that many members of the general public and merchants were unfamiliar with a digital euro and feared that cash was being phased out as the number of use cases for the technology increased.
A digital euro can only be successful if it meets the payment needs of Europeans, says Executive Board member Fabio Panetta. Focus groups have provided us with key input for the project.
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