The German Chamber of Commerce and Industry (DIHK) fundamentally supports the introduction of a digital euro. However, the digital euro will only achieve sustainable success if certain essential prerequisites are met during its implementation. In a current position paper, the DIHK emphasizes that the new digital currency will only gain widespread acceptance if it offers concrete benefits to companies and consumers.

Adrian: Clear Added Value Required

© DIHK / Werner Schuering

"Currently, we in Europe are solely dependent on the infrastructure of international – primarily US-based – providers for card payments. Therefore, a European, sovereign payment infrastructure is correct and necessary," explains DIHK President Peter Adrian on the occasion of the resolution in the DIHK Presidium. 

"True sovereignty, however, only arises if the digital euro is actually used and economically viable. It should offer clear added value to companies and consumers, otherwise it will not gain traction in everyday life." He advises the European Central Bank (ECB) to communicate the benefits of the digital euro much more effectively, as many potential users are still unaware of the advantages of the new payment form. 

Make Implementation and Usage Cost-Free and Simple

For acceptance among businesses, the cost issue is also important. "The introduction and use of the digital euro should not impose unnecessary additional financial or administrative burdens. The digital euro should integrate into existing systems and be practical," said Adrian. Regarding fees, he noted: "If the digital euro is more expensive than existing payment methods, it will not gain traction in retail." Easy technical integration is also crucial. Peter Adrian points out that the digital euro must seamlessly integrate into existing cash register, ERP, and accounting systems. "Only then is widespread use realistic." 

It is crucial that the digital euro is perceived as a supplement to existing payment options: "Cash must be retained as legal tender. The digital euro is intended to complement cash, not replace it." Private providers of other payment options also remain important for competition and innovation in payment transactions, emphasizes the DIHK President. 

Furthermore, Peter Adrian stresses the importance of the ECB and policymakers maintaining dialogue with the business community: "The digital euro will be a living system. Therefore, there must be an ongoing dialogue between politics, the financial sector, and business to adapt it to the real needs of the economy and enable technological innovations."