On Monday, the European Central Bank (ECB) published the results of a series of focus groups concerning citizens’ views on a European digital wallet. The study revealed a wide variety of opinions, which ranged from slight aversion to strong optimism. But there was a general interest in trying out the functionalities that a digital wallet would enable. Budget management tools and P2P payments were particularly well-regarded.
As part of its digital euro initiative, the ECB commissioned a series of focus groups to assess people’s perceptions regarding a future digital wallet. Participants were divided into target audiences and asked to rate several features to discuss how these would affect their potential adoption of a new digital payment solution.
Most people expressed willingness to experiment with these functionalities, but the discussions also revealed significant differences between and within groups. For example, younger individuals were more inclined to adopt or test the digital wallet, while older participants were somewhat more hesitant. Nevertheless, the level of acceptance was also influenced by how the digital wallet would be introduced, as well as the involvement of local commercial banks in the process.
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