Tools

Cash continues to be the most inclusive way to pay. It’s easy to use regardless of age or digital skills, and it’s the most resilient and private too. A BEUC survey found that 85% believe cash should be accepted everywhere at no additional cost. At the same time, access is declining, with fewer bank branches and ATMs available. Access and acceptance of cash must be guaranteed to protect consumer choice as it is seen as the only option to pay for many.

As society becomes increasingly digital, consumers need a digital payment method that works for everyone. As a public way to pay (like cash), the digital euro can be built in the interest of consumers. Getting its design right is essential for the success of the project, so that it is attractive and used by consumers.

From basic care to life-saving treatments, around two million different types of medical devices shape patient and consumers’ daily lives worldwide. The revision of the EU legislative framework in 2017 was a necessary step to enhance patient safety after past scandals across Europe like faulty breast implants illustrated that weak rules put consumers at real risk. Despite some enhanced coordination efforts between national authorities, the European Commission’s current proposal to amend these rules risks reversing previous patient safety gains by simplifying rules too far.

There is a growing pensions gap in the European Union and about half of consumers could meaningfully mitigate the risk of poverty in old age for themselves by investing into a good quality retirement savings product, if one was available. However, even the consumers who could, often don’t engage due to mistrust in financial services. Offering a high-quality, standardised product could increase participation by establishing a trustworthy and recognisable option and would meaningfully improve the retirement outlook for a large number of consumers.