EU calls for public feedback on European Business Wallet

The European Commission has issued a call for feedback on the EU Business Wallet, a digital identity wallet intended for “legal persons,” including companies, organizations and public administration.

The European Business Wallet is a key component in Europe’s plan to simplify doing business. The wallet’s purpose is to “drastically” reduce the regulatory and administrative burdens and remove barriers for companies in the European single market, the Commission explained earlier this year.

The EU Business Wallet will enable secure digital identification, data sharing and legally valid notifications across the EU, helping economic operators cut compliance costs. Built on the eIDAS regulation, the wallet is also designed to be interoperable with national systems and support cross-border business, according to the Commission.

The call for feedback lasts from May 15th to June 12th, 2025. The goal is to collect insights on specific challenges that could be solved by the wallet.

The feedback is part of a wider consultation on the EU Business Wallet that includes a study based on interviews with professionals, SMEs, industry and institutional stakeholders. The Commission is also planning a survey among stakeholders such as large corporations, SMEs, technology vendors and IT service providers, industry and professional associations, national and business registers and Chambers of Commerce, public administrations and other non-private bodies.

The consultation lasts from March to September 2025. Adoption is slated for the fourth quarter of 2025.

The feedback invitation highlights that current administrative procedures disproportionately affect small and medium enterprises (SMEs). Inefficiencies, regulatory burdens and different national rules are reducing competitiveness, slowing digital transformation and limiting the economic potential.

“Current processes are often inefficient leading to a near 2 trillion euros (US$2.2 trillion) loss in annual global economic value from lost productivity and revenue opportunities,” the document states.

Companies are already seizing the opportunity to build business identities.

The EU Digital Identity Wallet Consortium (EWC) has been running one of the EU Digital Identity (EUDI) wallet’s large-scale pilots, focusing on developing use cases for travel, payments and organizational digital identity. Earlier in May, European startup Duna announced a 10.7 million euro ($12.1 million) seed round.

The B2B ecosystem might be even bigger than payments, according to Esther Makaay, vice president of Digital Identity at identity verification company Signicat. However, many governments still have a learning curve ahead of them when it comes to organizational identity.

Article Topics

Competitiveness Compass  |  digital company ID  |  digital identity  |  digital wallets  |  EU Digital Identity Wallet  |  European Business Wallet  |  European Commission