A new horizon for pan-European payments and digital euro

On 22 October 2020, Commissioner McGuinness addressed a high-level event at the European Central Bank. She discussed the ECB’s strategy for retail payments, and noted that it is complementary to the Commission’s retail payments strategy, in particular with regard to instant payments, but also on cash and the digital euro. She underlined how much consumers and businesses in Europe depend, more than ever, on the efficient and secure movement of money in the current COVID crisis.

Ms. McGuinness set out the goals and overall vision of the new digital finance package, adopted in September: to provide a broad and diverse range of secure, cheap, fast, seamless payment solutions; to support home-grown and pan-European payment solutions; and to improve cross-border payments with non-EU jurisdictions.

You can read the full speech here