Thus, every retail transaction can be digitally and immediately settled end-to-end, starting from QRIS at the merchant level, continue to FinTech and/or digital banking, and then promptly cleared and settled through BI-FAST system quickly, easily, cheaply, and safe. BI-FAST will begin to be implemented in 2021 for credit transfer transactions, and will then be followed by debit transfers and other transactions.
To make a digital euro a valuable cornerstone of the payments landscape of the future, I picked out five ingredients of the “recipe for success”:  • Broad usability, but without unwanted side effects; • Well-thought-out implementation at the customer front-end; • A future-proof concept, enabling new business opportunities;  • A solid legal framework; • And last, but maybe most importantly: collaboration of all stakeholders.