If this is true then what will this new "digital Euro" change about the reliance on US credit cards? It seems that the 25% of people that are swiping US credit cards are doing it for the convenience and benefits of using a credit card. Will this digital euro change that?
It should say "Digital euro clears key hurdle as EU seeks to break free from U.S. debit and credit card processors". Most debit cards in the EU are either Visa or Mastercard, although there used to be more local/national systems.
In Brazil, which is further along in the transition to digital cash, PIX already supersedes debit cards. Some banks already offer deferred PIX payments, wherein the merchant receives the money right away and the buyer pays their bank later, with interest. The central bank is also developing a "pix with guarantee", which will compete with credit cards: payment would be agreed to be settled at a later date, with the bank guaranteeing that the merchant will receive the money.
Even though I and the supermarket I go to are both part of SEPA and I can issue a bank transfer that will clear ~instantly, today cashless payments still involve EMV for various reasons.
Credit Card usage is really different between those regions. While I lived in EU, I rarely used credit cards (even paying online works with debit cards). But in Canada/US, I almost exclusively pay with credit cards now when shopping. Although in fairness it took me a few years to get in the habit of using credit cards and 'collecting points'.
https://www.ecb.europa.eu/euro/digital_euro/faqs/html/ecb.fa...
Read the FAQ, it's about no longer relying on US payment processors for handling transactions in a different country that may not support your country's payment system
