The digital euro must offer real added value to craft businesses

"In light of global uncertainties, it makes sense that the digital euro is intended to strengthen the sovereignty and resilience of the European payments system. At the same time, however, the package also takes account of the continuing importance of cash.

It is encouraging that the Parliament, like the Council before it, also envisages a less stringent obligation on retailers to accept the digital euro. Small craft businesses in particular would benefit from the exemptions. At the same time, it remains unclear why an obligation should remain in place at all. If the digital euro, as legislators assure us, offers added value for everyone – including craft businesses – then these businesses will accept it even without being forced to do so. 

The fee structure is particularly crucial here. Merchants must be put in a better position with regard to the current card transaction fees. These are still dictated by payment service providers and often eat into businesses’ profits. It is therefore right that the European Parliament and the Council are in favour of capping these fees. 

However, the limits still need to be clarified as a matter of urgency. The costs must not exceed those of national cards such as Girocards. If other similar payment methods, such as credit cards, were used as a benchmark, small businesses would be at a disadvantage and the success of the digital euro would be jeopardised."