EU Set to Unveil Plans for Bloc-Wide Digital Wallet: Report

The app will reportedly allow citizens across the EU to securely access a range of private and public services with a single online ID.

By Reuters | Updated: 1 June 2021 15:59 IST

EU Set to Unveil Plans for Bloc-Wide Digital Wallet: Report

The EU-wide app can be accessed via fingerprint or retina scanning among other methods

Highlights

The digital wallet will securely store payment details and passwords
The app will serve as a vault where users can store official documents
Brussels is engaged in talks with member states to provide guidelines

The European Union (EU) is set to unveil plans for a bloc-wide digital wallet on Wednesday, following requests from member states to find a safe way for citizens to access public and private services online, the Financial Times reported.

The app will allow citizens across the EU to securely access a range of private and public services with a single online ID, according to the FT report on Tuesday.

The digital wallet will securely store payment details and passwords and allow citizens from all 27 countries to log onto local government websites or pay utility bills using a single recognised identity, the newspaper said, citing people with direct knowledge of the plans.

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The EU-wide app can be accessed via fingerprint or retina scanning among other methods, and will also serve as a vault where users can store official documents like the driver's licence, the newspaper reported.

EU officials will enforce a structural separation to prevent companies that access user data from using the wallet for any other commercial activity such as marketing new products.

Brussels is engaged in talks with member states to provide guidelines on technical standards for rollout of the digital wallet, which is expected to be fully operational in about a year, according to the newspaper.

© Thomson Reuters 2021

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