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Protecting cash - costing unknowing consumers (via merchants) 50 bn euros a year. Why on earth?

Cannot understand why banks have not more widely moved into much needed e-ID services. Earlier legislation, KYC, GDPR and soon MyData are the perfect platforms - and the tools are ready and have to be strong enough for any need. Initiated in Finland in the 90s and used 100,3 million times in 2017. EU would be over 700 million.....

Why can this be so difficult?

and much deeper here: https://www.finextra.com/blogposting/15451/seamless-access-to-data-in-digital-europe

Expensive, slow, uses more energy than New Zealand. Who is benefitting - criminals, terrorists and speculators. 

Let us hope so - but the Finnish e-payment model is as secure as a bill payment - and this has been running in e-banking since 1979 - without problems. The only problem here is that it is not a 4-corner model - and the merchant has to sign up with several banks - but then there are not that many in a small country..

Customers prefer it and merchants save costs and get the money in real time.

If the airline goes bankrupt you get your money back from the card issuer. The e-payment anno -96 is simply called e-payment. At the time it was introduced there was a lot of efforts to make card payments more secure - and the marketing for this managed to scare customers - so a familiar bill payment like e-payment was needed for e-commerce.

Implemented in Finland in the 90s - now dominating. But does not guarantee delivery - so in cases like risky airlines a credit card is better.

Central banks have a very important mission - namely to more or less force banks into stepping into a new layer of good for society at large - where only they have a real pole position - thanks to trust. e-ID, e-invoicing, e-receipts etc are the ecosystems urgently needed. Central also for the Single Market.