Italy proposes no fees for digital euro payments under €10
20 days ago
- Italy proposes exempting digital euro transactions under €10 from fees to support small merchants.
- The exemption is backed by the ECB and aims to reduce costs for small businesses in the digital euro rollout.
- The digital euro is expected to be ready by 2029, pending regulation, and aims to enhance EU payment autonomy.
- Negotiations focus on a compensation model for fees, with a proposed cap of €0.02 per low-value transaction.
- Small merchants currently pay 3-4 times higher fees than large merchants due to weaker bargaining power.
- A temporary fee scheme will allow data collection for future models, addressing data gaps highlighted by the European Court of Auditors.