EU set to unveil plans for bloc-wide digital wallet

The Financial Times reports that the European Union (EU) is set to unveil plans for a bloc-wide digital wallet on Wednesday.

The plans were in response to requests from member states to find a safe way for citizens to access public and private services online.

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

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 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.

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.

EU 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.

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