The introduction of a digital euro could cost the banks between 18 and 30 billion euros, the research of the PWC consulting company showed.
The PWC survey, which ordered the European Association of the Credit Sector (ECSA), has shown that adjustment costs for a group of 19 banks should amount to just more than two billion euros.
This would mean that bank costs in the entire eurozone should amount to 18 billion to 30 billion euros, they calculated in PWC.
Updating applications for mobile banking, an online platform, physical payment cards and payment terminals will require significant investments, research has shown.
Each bank will only need to consume the ATMs only to adjust the ATM infrastructure on average, they calculated in PWC.
The introduction of a digital euro will also require the engagement of a significant part of the labor force over a period of several years, which could brake innovation in the payment sector.
Digital euro is conceived as a European alternative to dominant American digital payment companies, such as Paypal, MasterCard and more, notes the German DPA news agency.
Many banks in Germany are skeptical, insulting the added value of the project compared to existing payment systems, such as real-time transfer.
