18/05/2026

EUDI Wallet: The Digital Identity Revolution – Are You Ready for 2027?

 

What is a Digital Wallet?

Let’s start by defining the terminology. A digital wallet is not a place where you store money. Although “Digital Wallet” is the common translation, a more accurate term might be “Digital Pouch.” Other terms have also been considered, such as “Personal Data Store,” “Identity Container,” or “Digital Pouch.”

A digital wallet represents you in the digital world. First and foremost, it guarantees your identity. Even that first step is significant. What follows goes much further: all your digital assets, achievements, certifications—everything—will either be stored in the wallet or accessible through it.

A New Foundation of Personal Digital Identity

What does it mean to be represented digitally? A useful comparison is a national ID number in the physical world. Similarly, every citizen will be assigned a unique identifier called PID (“Personal Identification Data”), issued by a government or authorized agency. In Croatia, this is handled by FINA.

The PID record contains basic personal data: name, date and place of birth, nationality, gender, and a unique identifier. In addition to a master identifier, multiple purpose-specific identifiers will exist. For example, opening a bank account generates a unique identifier for that purpose, while healthcare services use a different one. These identifiers can only be linked within the digital wallet system.

This prevents unauthorized data access—for instance, a bank cannot access your medical records, and a dentist cannot see your bank balance. At the same time, the wallet owner can grant access when needed, such as for KYC procedures. All other data remains private unless explicitly shared.

The user retains full control over privacy, granting access only to the data necessary for a specific purpose, while all other certified attributes remain protected.

How Does the System Work?

All data—referred to as “attributes”—must be verified and certified. Only such data can represent the wallet owner.

For example, in Croatia, a driver’s license is issued by the Ministry of the Interior (MUP), which acts as a qualified attribute attestor within the system. The wallet owner can request real-time validation of their license. Any status change—expiration or revocation—is immediately reflected, preventing misuse.

When Is the Digital Wallet Coming?

The EU has defined a clear rollout timeline:

  • By the end of 2026, all EU member states must provide at least one official EUDI wallet to citizens
  • During 2027, the following sectors must accept EUDI wallets:
    • Very Large Online Platforms (VLOPs), such as Google, Meta (Facebook), Amazon, Apple, and TikTok, under the Digital Services Act (DSA)
    • Critical private sectors requiring strong authentication (SCA) or identity verification (KYC), including:
      • Banking and financial institutions
      • Telecommunications
      • Energy and transport (e.g., airlines, railways)
      • Healthcare and education

How to Take the First Steps

As a citizen:

  • Explore demo wallet applications already available online
  • Download and start using the official EUDI Wallet once released

As a business:

  • Upgrade systems to support digital wallet integration—many gateway solutions already exist and require minimal backend changes
  • Consider issuing your own digital wallet to strengthen your brand as an innovative player (optional, but strategically beneficial)

Digital Wallet for Businesses – Corporate Digital Identity

While most discussions focus on individuals, business digital wallets represent a major shift for companies. Organizations will store and present verified attributes such as registry extracts, certifications, and financial credibility data.

Why Does This Matter for Your Business?

The business digital wallet brings three key advantages:

  • Real-time B2B trust: Immediate exchange of verified company data when forming partnerships
  • Automated procurement: No more collecting paper documents—everything is available as certified digital attributes
  • Simplified cross-border operations: Recognized credentials across the EU reduce bureaucracy and accelerate international collaboration

Additional benefits include:

  • Advanced e-seals and digital signatures: Ensuring document authenticity and integrity
  • “Know your agent” capability: Centralized control over AI agents acting on behalf of the company, including permissions, audit trails, and compliance verification

Integration into Existing Processes

The digital wallet is not just another app—it is infrastructure. It integrates with ERP and CRM systems, enabling:

  • KYC verification within seconds
  • Secure delegation of authority within the company (e.g., assigning signing rights or account access)

For more information, feel free to reach out.

Author: Dubravko Šimag