The European Commission has unveiled a new digital package that includes proposals for “European Business Wallets,” positioning digital identity as a central lever for reducing administrative overhead and supporting cross-border trade within the bloc. Presented alongside a Digital Omnibus initiative to streamline EU rules on artificial intelligence, cybersecurity, and data, the European Business Wallet is intended to give companies a reusable, trusted digital identity that can be used across Member States. The Commission formally announced the Digital Business Wallet initiative in February, building on momentum from the WE BUILD consortium’s selection for business-focused Large Scale Pilots.
According to the Commission, the Digital Omnibus will simplify compliance with a wide range of existing digital legislation through targeted technical amendments, while a parallel Data Union Strategy seeks to unlock higher quality data for AI systems. Within this framework, European Business Wallets would allow enterprises to store and present key credentials in a harmonized format, reducing the need to repeatedly provide the same documents when dealing with authorities in different countries. The Commission estimates that simplification measures could save up to 5 billion euros in administrative costs by 2029, with business wallets unlocking up to 150 billion euros in additional annual savings.
The European Business Wallet proposal is closely linked to the EU’s broader trust services and eIdentification agenda, including the ongoing rollout of the European Digital Identity (EUDI) Wallet for individuals. While the EUDI Wallet focuses on citizens and residents, the new proposal targets legal entities and aims to streamline processes such as company registration, licensing, and cross-border filings. European Business Wallets would build on existing eID and trust services frameworks but tailor them to business needs, for example by facilitating the secure sharing of company certificates and attestations in machine-readable form. Multiple EU member states are advancing their EUDI Wallet implementations, with Germany signing a memorandum with over 75 organizations and Finland testing travel applications with Amadeus.
The initiative will now move into the legislative process, where Member States and the European Parliament will scrutinize the balance between simplification and regulatory safeguards. Questions are likely to focus on interoperability with national systems, governance of wallet providers, and alignment with ongoing work on the EUDI Wallet. For digital identity vendors and trust service providers, the proposal signals that enterprise-focused wallet solutions will play a larger role in the EU’s digital single market strategy over the next decade. The EU Digital Wallet Consortium has already released payment integration specifications and explored payment applications in a comprehensive white paper.
Sources: European Commission; European Commission Digital Rulebook overview
—
By Ali Nassar-Smith
