Digital euro: increasing awareness, but stagnating interest - why traditional payment methods continue to dominate

<p> <strong> Digital euro: increasing awareness, but stagnating interest - why traditional payment methods continue to dominate </strong> </p>

growing awareness, stagnating acceptance: the digital euro in the focus

New research results of the European Central Bank (ECB) show that awareness of the digital euro has increased significantly in the population, while interest in its actual use is limited. A comprehensive survey of 19,000 households in 11 EU countries reveals a central hurdle: Many people are completely satisfied with their current payment methods.

Awareness of the digital euro increased

The study has shown that the awareness of the digital euro, a digital central bank currency (CBDC), has increased. While in August 2022 only 28 % of the respondents were open to the digital euro, this value rose to 45 % by June 2023. Since then, however, acceptance has stagnated and remained almost unchanged by March 2024. Although more and more people are informed about the digital euro, many see no reason to give up their usual payment methods such as credit cards or mobile payment services. In view of the fact that 97 % of households already have a bank account, the digital euro appears to be superfluous for many.

Effect of Enlightenment only for a short time

In order to increase acceptance, the ECB tested the effects of reconnaissance measures. Participants who saw a 90-second video with the advantages of the digital euro were more willing to rethink their opinion. However, it turned out that this effect was short -lived. After three months, the effect had largely decreased. In addition, most participants did not take the opportunity to find out more, even though this was offered free of charge. This indicates that one -off communication measures are not sufficient. The ECB has to develop clear, repeated and targeted messages in order to arouse interest, especially with disinterested persons.

a "blanket" of acceptance?

The study warns that the adoption rate may have reached a "ceiling". Over 50 % of those surveyed show no willingness to use the digital euro, mainly due to their satisfaction with existing payment methods. The authors of the study emphasize that a significant part of consumers would probably not accept the digital euro, since they clearly have a preference for the already used payment methods.

data protection concerns as a stumbling block

Another factor that could brake the acceptance of the digital euro are data protection concerns. Critics, as Donald Trump, who promised before his election, prevent a digital dollar warn of the surveillance opportunities associated with CBDCs. Such concerns could also negatively affect the acceptance of the digital euro in the EU. The ECB faces the challenge of invalidating these fears and positioning the digital euros as an Innovation that promotes security and inclusion instead of exercising.

FAZIT

Despite the increased popularity, the enthusiasm for the digital euro remains. The ECB must convince clear advantages through continuous education and the emphasis to overcome satisfaction with the status quo. This is the only way to become the digital euro more than a well -known but unused concept.