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I Agree that the situation in Europe is not too bad. Still I can see a situation where some cryptocurrency pushes transaction prices down for regular payments (maybe without handling fraud, because it is a smaller problem with smaller transactions?).

But none of the cryptocurrencies are there yet, and maybe it will never happen.

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If you need marginally free payments, the mobile payment systems that exist in several countries are already doing a pretty good job. We could imagine some EU regulation push to mandate inter-operability [1] and no/low cost to small businesses.

I don't think big businesses can just disregard the cost of fraud and other payment incidents. On the other hand, subsidizing small businesses makes sense: for good or bad, there's an increasingly anti-cash movement in some European countries.

[1] https://empsa.org

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