The Central Bank of Cyprus (CBC) conducted its first quantitative study to gauge public knowledge, usage intentions, and concerns regarding the European Central Bank’s planned 2029 digital euro rollout. Based on a nationwide telephone poll of 506 residents aged 18 and older, the findings reveal a widespread knowledge gap alongside strong commercial readiness.
Demographics, Awareness, and Usage Intentions
| Survey Metric | Total Share | Primary Demographic Profile | Core Characteristics & Trends |
| Unaware (No Knowledge) | 61% | General public across all regions | Complete lack of information regarding the ECB project |
| Partial Awareness | 39% | Older, higher-income, educated urban males | Self-employed individuals, business executives, urban residents |
| Fully Informed | 1% | Niche informed segment | Considers themselves thoroughly educated on the initiative |
| Willing to Adopt | 35% | Under 45, employed, higher-income & educated | Plan to use for retail (41%), online (40%), and P2P (33%) |
| Unlikely to Adopt | 28% | Privacy-conscious or skeptic consumers | Concerned about surveillance, cash loss, or lack of unique value |
| Neutral / Undecided | 37% | Wait-and-see cohort | Awaiting further clarity on features, safety, and implementation |
Information Sources & Payment Habits
Information intake varies significantly across demographic groups, reflecting divergent media consumption across Cyprus:
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Media Channels:
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Social Media (49%): Leading news source, primarily among younger audiences and lower-to-middle income groups.
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Television (30%): Primary channel for older demographics.
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Print & Online News: Favored by higher-educated and higher-earning citizens.
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Point-of-Sale Behavior: While cash remains the most widespread overall method, 63% of residents use credit/debit cards in physical stores weekly, and 23% execute mobile or online transfers weekly.
Usage Intentions & Public vs. Business Sentiment
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Planned Consumer Applications (35% Willing Group):
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41% for physical in-store retail purchases.
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40% for e-commerce and online shopping.
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33% for person-to-person (P2P) transfers.
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Consumer Hesitations: 56% see no distinct value over existing digital options. Key misgivings include transaction surveillance or cash elimination fears (53%), security concerns (38%), and ease of use (30%).
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Enterprise Readiness: The business sector shows strong baseline support, with 54% of business owners, managers, and self-employed individuals ready to accept digital euro payments without hesitation. Only 27% express a negative stance, while 9% condition their adoption on customer demand and processing fees.
Source: Stockwatch.com.cy