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European Union to Reveal Plans for Digital Wallet: Report
The wallet is expected to be operational in around a year's time, according to the report.
Updated Sep 14, 2021, 1:05 p.m. Published Jun 3, 2021, 9:46 a.m.
The European Union (EU) is set to announce plans for a digital wallet to store payment details and identity credentials among other information, according to reports.
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- The plans follow requests from member states to offer a secure way for citizens to access public services, Reuters reported Tuesday citing the Financial Times.
- The wallet would store passwords and payment details, allowing access to local government websites and bill payments using a single digital identity.
- EU officials are in talks with member states about a rollout. The wallet is expected to be operational in around a year's time, according to the report.
Read more: ECB Report Highlights Risks of Not Launching CBDC
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