EU seeks more integration with digital ID card – which will have the form of a phone app. The digital wallet will allow EU citizens to apply for loans or to open a bank account.
The European Commission will on Thursday propose the introduction of so-called digital wallets that will offer access to a range of services across the EU for the bloc’s 450 million citizens, according to Bloomberg.
“Under the new rules, European Digital Identity Wallets will be available to everyone,” according to a draft of the proposals seen by Bloomberg. The wallets will allow European Union citizens to digitally identify themselves, and store identity data and official documents such as driving licenses, medical prescriptions or education qualifications.
With the new ID wallets, which will have the form of a phone app similar to those used in Android and Apple Inc. phones, EU citizens will be able to rent cars outside their home country, prove their age, apply for loans, open a bank account, submit tax declarations, or enroll in a university.
The commission aims to release a technical toolbox which can be used for the introduction of the wallets by October 2022.
Anders Olofsson – former Head of Payments Finastra
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
