ECB Member Cipollone states digital euro will complement cash, not replace it

ECB Executive Board Member Piero Cipollone stated that the digital euro will complement cash, not replace it, emphasizing that it will offer the same high level of security at no cost to individuals. The digital euro is expected in 2029, and while it will be accessible via an app or a card for those without a phone, it will also support offline payments. For merchants, the digital euro offers a public alternative to existing card payments, potentially halving the cost of accepting digital payments for small merchants in Italy, where Satispay and Bancomat are already participating.