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Bank-backed consortium wins funding to test payments for EU digital identity wallet

Bank-backed consortium wins funding to test payments for EU digital identity wallet

A multi-country consortium consisting of banks and technology companies has been chosen to deliver a cross-border payments pilot for the European Commission’s EU digital identity wallet programmer.

The consortium, led by Nordic-Baltic eID Project (Nobid), consists of participants from six member states - Denmark, Germany, Iceland, Italy, Latvia and Norway.

The EU digital identity wallet is a secure app that, when it comes into being, will allow citizens across the continent to verify their ID, access public and private services and store sensitive digital documents in one place.

The Nobid consortium will receive funding from the EU Commission´s Digital Europa Programme to commence the pilot with merchant partners from March 2023. The project will leverage the mature digital identity infrastructures of the six respective nations to enable payment issuance, instant payments, account-to-account transfers and payment acceptance both in-store and online.

Tor Alvik, project manager, says: “We will make use of our experience and highly mature digital identity infrastructures in the Nobid consortium countries to deliver a successful large-scale payments pilot of the EU Digital ID Wallet.”

Participants include DSGV in Germany, DNB and BankID in Norway, Nets in Denmark, Intesa Sanpaolo, PagoPA and ABILab in Italy and Greiðsluveitan in Iceland.

Technology partners include Thales, iProov, Signicat, RB, Auðkenni, IPZS, Poste Italiane, Intesi Group, InfoCert, FBK and Latvian State Radio and Television Centre.

Merchants that will be testing out the payment solution include Elkjøp in Norway and REWE-group in Germany.

Comments: (1)

David Gyori
David Gyori - BANKING REPORTS, LONDON - London 19 December, 2022, 13:19Be the first to give this comment the thumbs up 0 likes

This is absolutely great! Who are the other applicants for this EU fund?