What is the European Digital Identity Wallet?

Jun 20, 2024

The eIDAS 2.0 regulation came into effect within the EU on May 20, 2024. As explained in our previous article, eIDAS aims to ensure a unified authentication service across all European Union countries. It establishes a framework for trust services such as digital identity, authentication, electronic seals, and electronic archiving to secure exchanges and transactions.

In this context, European authorities have envisioned the creation of a European Digital Identity Wallet. What is it and what will it actually be used for? How can it help figjt identity fraud?

Focus on the European Digital Identity Wallet

First, it is important to understand what the European Digital Identity is. As proposed by the EU, it is simply a process for European citizens and businesses to identify themselves digitally. This allows them to manage identification data and identity documents from a digital space accessible in all EU member states. The new version of the eIDAS regulation aims to make this process interoperable between member countries.

The goal of the European Digital Identity Wallet is to strengthen this principle by securely storing and managing the EU citizens digital identity. Identity cards, passports, driving licenses, bank cards, or even diplomas—all an individual's identification data will thus become official documents in digital format.

It will therefore be used to guarantee the identity of its holder to, for example, public or private services, but also to authorize a secure online transaction if authentication is required.

The European Digital Identity Wallet will allow for administrative procedures (such as enrolling in a European university or purchasing prescription drugs) and other official procedures requiring identity verification in all EU member states.

The European Digital Identity Wallet: A Fight Against Identity Fraud

With such measures, identity fraud could be significantly reduced. Indeed, the new version of the eIDAS regulation will enhance security and interoperability requirements, strengthening trust services and digital transactions.

The European Digital Identity Wallet is a digital tool aimed at drastically reducing fraudulent activities, protecting users' identities. Compliant with the GDPR, it marks a significant step towards a secure and transparent online experience. It will strengthen data protection and support a collaborative digital community.

Moreover, the Know Your Customer (KYC) process is integrated from the wallet's creation, enabling businesses and organizations to verify their customers' identities to counter any risk of fraud. Remote identity verification will thus be facilitated to ensure the integrity of users while reducing administrative procedures for them.

EU member states have until 2026 to implement a wallet system compliant with eIDAS. Once available, every citizen of a member state will be able to use the European wallet. They will simply need to download it in the form of an application and install it on a smartphone or other mobile devices.