According to the British Financial Times, the European Union (EU) is scheduled to announce the EU-wide digital wallet plan on Wednesday, seeking a safe way for citizens to access public and private services online at the request of member states.

According to a report from the Financial Times on Tuesday, the app will allow citizens across the European Union to securely access a range of private and public services through an online ID.

The newspaper quoted people with direct knowledge of the plan as saying that the digital wallet will securely store payment details and passwords, and allow citizens from all 27 countries to log on to local government websites or use a single identification to pay utility bills.

Applications within the EU can be accessed through fingerprints or retina scanning, and will also serve as a vault where users can store official documents such as driver’s licenses.

EU officials will implement a structural separation to prevent companies that access user data from using wallets for any other business activities, such as marketing new products.

Brussels is negotiating with member states to provide guidance on the technical standards introduced by the digital wallet, and according to the paper, it is expected to be fully operational in about a year.

Thomson Reuters 2021 ©

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