Since November 1, 2023, the European Central Bank (ECB) launched the first preparatory phase for the digital euro. This is a particularly significant development, as this new transaction medium aims to function as the digital equivalent of cash. The question, however, is what exactly it includes and how it differs from existing forms of electronic payments.
Read: Digital euro: What it is and how it affects our lives
According to the ECB, unlike cryptocurrencies, it is not based on private mechanisms but on the guarantee of the ECB itself, maintaining its value at par with the physical euro and allowing its use in daily transactions within and outside the Eurozone.
How will it work?
The digital euro represents a new alternative solution and offers a new possibility to citizens. To acquire a “digital wallet,” one will not need to go exclusively to a bank as they will be able to create it through public entities such as the post office. Subsequently, the user will be able to transfer money to the wallet from a connected bank account or deposit cash.
The digital euro will offer both online functions and offline functions while in payments made without internet connection, transaction data will be visible only to the payer and the payment recipient. This ensures a level of privacy equivalent to that offered by cash transactions.
Digital euro: What consumer research shows
The ECB participated in consumer research on digital payments in May/June 2025, the results of which were published today by the European Consumer Federation (BEUC). The research was conducted in 10 countries (Austria, Belgium, France, Germany, Greece, Italy, Portugal, Slovenia, Spain and the Netherlands) and among more than 10,000 consumers.
Specifically, the research reveals that in case of adopting new digital payments (such as the digital euro), consumers demand:
1.55% want security and reliability. In the last five years, 22% of adults and 18% of teenagers reported falling victim to security breaches or fraud related to digital payments. The overwhelming majority of consumers (86% of adults and 82% of teenagers) state they worry about potentially not being compensated in case of fraud (scams). In Greece’s case, 14.8% of Greek consumers in the last 5 years fell victim at least once to theft or fraud related to their bank account. Specifically:
18.2% relates to their credit/debit card and
7.8% relates to their digital wallet
2.53% want ease of use. The majority (55%) of those already using digital payment methods report difficulties regarding technical errors, security issues or lack of skills.
3.49% demand payments to be either free or with particularly low charges. Almost everyone (87%) stated that digital payments should be free for consumers and 88% believe that every bank account should offer a free payment card.
4.81% of adults and 72% of teenagers worry about privacy violations.
5.44% demand compensation through easy and immediate procedures in case of fraud.
6.85% wish to maintain widespread acceptance of cash and 46% of teenagers and 52% of adults fear they will lose the right to choose their payment method in the future.
