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Friday, March 31, 2023

EU digital wallet already being tested: ID, password and all payments from a single application

The EU’s “digital wallet” is already taking shape. In a single application, European citizens will have access to all official documents such as, but not limited to, ID or driving license. This will also work for saving passwords or make official payments such as taxes or fines,

this great project known as european digital identity wallet, One unified system that will be used for all kinds of uses, from renting a car to verifying our identity. “An alternative to the model of large online platforms,” ​​explained Commission President Ursula von der Leyen.

it won’t happen until 2024 When this digital wallet is expected to arrive remains to be seen, but we already know enough details about what it will look like.

The European digital wallet is born in Northern Europe

The first one is being used by NOBID (‘Nordic-Baltic Eid Project‘), it is a federation formed by Denmark, Germany, Iceland, Italy, Latvia and Norway. This group of countries has already created an application that will serve as the basis for digital wallets of the future. From March 2023, NOBID will make its app available to some users.

In addition to securely storing identity and private documents, the consortium states that one of their priorities is PSD2 payments. Its payment infrastructure allows you to make online payments, make transfers from one account to another and accept payments in physical stores. What can be done now with a platform like Google Pay, but with a common system created by and for European citizens.

There are many European banks for this payment infrastructure: DSGV in Germany, DNB and BankID in Norway, Nets in Denmark, Intesa Sanpaolo, PagoPA and ABILab in Italy and Greiðsluveitan in Iceland.

Technology companies working on this digital wallet include Thales, iProv, Signicat, RB, Okeni, IPZS, Poste Italiane, Intesi Group, Infocert, FBK and the Latvian State Television and Radio Center. as well as Elkjøp in Norway and REWE-group in Germany.

The countries chosen for this pilot test are not by chance, as they all stand to complete several document digitization projects. For example, Norway claims that 90% already use an electronic ID, while Denmark states that it is one of the countries where more citizens have their official documents digitally. On the German side, the Bank’s strength is defended Digital ID is mandatory in Latvia From 2023 and in most state administrations the Estonian equivalent is used.

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Based on the results of this pilot, the European Parliament will decide on its implementation. At present the European Council has accepted the proposal for a European digital wallet forever under the EIDAS regulation of electronic signatures and related data legislation.

If the Spanish application Mi Carta Ciudadana is already a step in that direction, a very important step could be taken with the advent of digital wallets. Europe wants a strong digital market. And the solution is to make your own equipment.

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World Nation News Desk
World Nation News Deskhttps://worldnationnews.com/
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