Digital Euro – The European CBDC
The European Central Bank (ECB) is working intensively on introducing of a digital euro. The backdrop to these considerations is the decline in cash use, the growing need for secure, digital means of payment, and independence from international payment schemes. The digital euro is intended to serve as an innovative addition to the existing payment system – a digital equivalent of cash that represents risk-free central bank money. Unlike cryptocurrencies or private payment services, the digital euro is stable, government-guaranteed, and subject to the highest security and data protection standards.
We know
The euro has proven its worth in finance, banking and payments. It is obvious that the ECB now wants to transfer the properties valued in cash into the digital age. Key objectives of the Digital Euro: -As a legally recognised means of payment, issued directly by the European Central Bank, the digital currency is to play a leading role in European financial architecture. - Europe's dependence on foreign payment providers, such as MasterCard and Visa, will be significantly reduced. - The digital euro is intended to be a secure, accepted and free means of payment, facilitating peer-to-peer transactions in the eurozone in particular. - The strong similarity to physical cash is fundamental, especially the renunciation of the storage of personal transaction data to protect privacy.
We deliver
Senacor brings extensive expertise in business and IT consulting, especially in the financial services sector, making it an ideal partner for the challenges and opportunities that come with the introduction of the digital euro. We support companies in recognising the potentials and risks of the digital euro and in developing strategies tailored to them. With our many years of experience, we help our customers create customised implementation plans that enable a smooth rollout. A special focus is on the development of tailor-made IT target architectures that meet the specific requirements of our customers. Our solutions are designed to efficiently develop existing infrastructures and integrate future-proof technologies in order to optimally integrate the digital euro into business processes. Our exemplary approach: 
We are
Senacor Technologies AG is an IT service provider with a focus on the transformation of complex IT landscapes. Originally focused on the finance and insurance industries, the company is now active in other sectors, including transport and logistics, automotive and energy. The IT consulting company places a special focus on the effects of digitisation and its potential to change value creation models. Sustainability is an important part of the corporate strategy. Senacor supports the United Nations Global Compact and works to continuously minimise the environmental impact of its operations. Senacor employs more than 1,000 people at its headquarters in Eschborn and its locations in Germany, Austria and Switzerland, as well as at its nearshore locations in Poland and Slovakia. The focus of business activities is on software development and system integration. Since its foundation almost 25 years ago, the company has recorded continuous strong growth. Absolute delivery and budget adherence are reasons for very long-term business relationships, which account for about 80 percent of annual sales.
FIELDS OF ACTION
Innovation and adaptation: Key fields of action for banks and payment service providers
The introduction of the digital euro brings far-reaching changes for banks and payment service providers. IT infrastructures need to be modernized, business models rethought and new regulatory requirements met. The focus is on efficiency, security and scalability in order to remain competitive.
The challenges and priorities vary depending on the company: While some primarily have to adapt their technical infrastructure, others focus on new business models or regulatory adjustments. We provide targeted support from the selection of the right strategy to its implementation.
A wallet for the digital euro: New opportunities for banks and merchants
The digital wallet for the digital euro opens up new opportunities for banks and merchants to expand their offerings and strengthen customer loyalty. At the same time, it requires technical adjustments and investments to meet safety and regulatory requirements. The functions envisaged by the ECB enable the digital euro to be stored, sent and received – via a mobile app, web-based services or integrated into the banks’ banking apps. For banks, this means integration into their systems, while merchants have to adapt to a new way of paying digitally. Smooth implementation is crucial both for the success of the digital euro and for one’s own market position.
From POS to e-commerce
The acceptance of the digital euro at the point of sale requires an adaptation of existing payment systems. This includes the design of dedicated merchant accounts and the integration of the Digital Euro into POS protocols to ensure smooth transactions. Innovations are also necessary in e-commerce and m-commerce that allow checkout processes to be further optimized.
Optimization and expansion: New opportunities through the digital euro
The introduction of the digital euro offers significant optimization potential and new business opportunities for banks, payment service providers, and merchants. Automated processes for recurring payments can deliver substantial efficiency gains, reducing costs while simplifying transaction management.
Additionally, deep integration through Real-Time Payment (RtP) and new pay schemes enables seamless and instantaneous payment processing
