Ecommerce Europe discussed Digital € with Commissioners Breton and McGuinness

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On 28 February, Secretary General Luca Cassetti represented Ecommerce Europe in a high-level industry roundtable with European Commissioners Mairead McGuinness and Thierry Breton, which was focusing on the Digital Euro initiative. The EU Commissioners organised this event to discuss opportunities for the industry, and notably for e-commerce and retail. The Commission stressed the importance of this project for both the society and economy, in a world where consumers use less and less cash. Ecommerce Europe stated that it expects the Digital € to become a European payment solution able to boost competition in the EU and bring the costs of payment for merchants down.

Ecommerce Europe stated its overall support to the initiative as it believes that a Digital €, under the right conditions, could really play a key role as an efficient and accessible cross-border payment solution: from a user perspective, consumers will likely to Digital € via their banking apps or via a designated app or wallet, but it should also be possible to pay in an offline environment, as it is now with NFC chip cards. It is important to ensure easy access to the Digital € for consumers as well as a convenient and smooth experience. For merchants, the Digital € should be an efficient omnichannel and cross-border payment solution. It should allow for easy integration into existing merchant infrastructure and cover existing retail use cases such as subscriptions, refunds…

During the event, Luca Cassetti stressed that a careful approach and a thorough impact assessment are paramount in case legislators would decide to make the adoption of the Digital € mandatory for (some) businesses, and called on the Commission to continue consult stakeholders throughout the whole process that will lead to the creation of a framework for the Digital €.

Recently, Ecommerce Europe has been nominated to contribute to the newly set-up Digital Euro scheme Rulebook Development Group. The association is represented by Roberto Liscia, President of Netcomm, and Member of the Board of Directors and Executive Committee of Ecommerce Europe. The objective of this group is to draft a Digital € rulebook which will consist of a set of rules, practices and “standards” that will allow the distribution of digital euros, on the basis of the design decisions taken by the ECB’s Governing Council.

The voice of merchants in the development of the Digital € and Ecommerce Europe looks forward to contributing to its development so that it can address current challenges in the EU retail payment market.

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