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Research: ECB publishes report on payment habits and attitudes as part of digital euro project

ECB | Release | Mar 30, 2022

study on new digital payment methods - Research:  ECB publishes report on payment habits and attitudes as part of digital euro projectThe European Central Bank (ECB) published today the findings of its commissioned research on citizens’ payment habits and their attitudes towards digital payments in order to gain a deeper understanding of user preferences as part of the digital euro project.

Based on the responses of focus groups and online communities across all euro area countries, the report shows a strong preference for payment methods with pan-European reach and universal acceptance in physical shops and online. Users favour payment solutions that are convenient, fast and easy to use. Participants valued the possibility of instant and contactless person-to-person payments, regardless of the platform or device. Focus group respondents also wished for a one-stop-solution that would incorporate all the current payment options into one system.

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Safety and security were a concern among respondents, who sought guarantees against fraud and hacking, as well as secure and reliable payment authentication methods. Biometric methods of payment verification, such as those involving iris scan technology, were widely supported by participants, while flexible and adjustable privacy settings were seen as desirable.

“We want the digital euro to add value for end users and merit their confidence,” says ECB Executive Board member Fabio Panetta, Chair of the High-Level Task Force on a digital euro.

“A digital euro could enhance European payments by providing a universally accepted and secure solution that facilitates contactless and instant payments.”

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Download the 128 page PDF 'Study on New Digital Payment Methods' --> here


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