European business wallets are digital identity and document management tools built on eIDAS2 framework, but the update focuses on identity verification, document storage, and business-to-government communication rather than payment instrument issuance or fund movement.
Third-party provider oversight is tangentially relevant given the authorization and supervision framework for wallet providers, but the update emphasizes identity and document management rather than third-party payment service arrangements.
Specialism
The update addresses cybersecurity requirements for European business wallet providers, including authorization thresholds and supervisory oversight, though the primary focus is on digital identity and interoperability rather than payment-specific security.
Low confidence — requires human review. The update involves supervisory oversight of wallet providers and authorization frameworks, but this is institutional governance rather than ongoing payment firm supervision.
Keywords
Industry, Cybersecurity, Digital economy, Single market
2026-06-10 07:59:12·adavies@vixio.com
Meta Id
3224255
Content ID
3232737
GUID
df8c3573c19388f13edcc66643034174
The Council has adopted a general approach on the proposal for European business wallets, emphasising interoperability, cybersecurity, and appropriate implementation timelines.
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TITLE: European Union Council Adopts Negotiating Position on European Business Wallets
BODY:
On June 9, 2026, the Council of the European Union adopted its negotiating position on the proposal to establish European business wallets, a digital tool designed to simplify and secure business interactions across the EU between companies and with public administrations.
European business wallets will build on the eIDAS2 framework to enable companies to digitalise operations that currently require in-person processing. The initiative will provide a harmonised European solution allowing secure, cross-border communication and document exchange for businesses operating in multiple member states. Companies using a European business wallet will be able to verify identity digitally, create and store trusted documents including verified licenses and permits, sign and timestamp documents electronically, delegate legal authority to representatives, and communicate securely with other businesses or public administrations.
Key provisions of the Council's position include interoperability requirements specifying that European business wallets should complement rather than replace existing national business-to-business and business-to-government systems. The Council emphasised that while digital actions via European business wallets are largely recognised as legally equivalent to traditional paper-based processes, national administrative and procedural requirements remain applicable. To enhance cybersecurity, the Council raised the threshold for European business wallet provider authorisation and introduced an obligation for the European Commission to adopt implementing acts detailing submission requirements for aspiring providers. National supervisory bodies reviewing provider applications have been accorded extended deadlines of up to 60 days instead of the initially proposed 30 days. In cases of systemic non-compliance by providers, the Council ensured stronger involvement of national supervisory bodies.
The Council's adoption of this position demonstrates member states' commitment to reaching a final agreement before the end of 2026, as requested by EU leaders in March 2026. Negotiations with the European Parliament under the ordinary legislative procedure may now begin once the Parliament adopts its position.
European business wallets: Council adopts negotiating position - Consilium We use cookies to improve your browsing experience. Necessary cookies are required to support essential features of the Council's website. Optional cookies help us produce anonymous and aggregated statistical reports to better serve your needs. Visit our cookies policy page for more information and to change your settings. See more Skip to content Search Search keywords About the institutions Topics Meetings News and media Documents and research Council of the EU Press release 9 June 2026 11:05 European business wallets: Council adopts negotiating position Today, the Council adopted its position on the proposal to establish European business wallets, a digital tool designed to simplify and secure business interactions across the EU, both between companies and with public administrations. Building on the eIDAS2 framework, European business wallets will allow companies to digitalise many operations that currently require in-person processing. By providing a harmonised European solution, European business wallets will enable secure, cross-border communication and document exchange for businesses operating in multiple member states. Businesses should be able to operate across the single market as seamlessly as they do within their own member state. Today's agreement on the Council's position on European business wallets, a key building block of Europe’s digital future and central to our 'One Europe, One Market' roadmap, marks an important step towards that goal and puts us right on track to reach a political agreement by the end of 2026. By enabling secure and trusted digital interactions across borders, through a single, harmonised digital business identity solution, the initiative will help reduce administrative burdens, strengthen our single market, and support a more competitive, innovative and digitally connected European economy. Nicodemos Damianou, Deputy Minister for Research, Innovation and Digital Policy of the Republic of Cyprus The adoption of the Council’s position demonstrates the commitment of member states to reach a final agreement on this legislation before the end of 2026, as asked by EU leaders in the conclusions of the March 2026 European Council. The adoption of the European business wallets is in line with the ‘One Europe, one market’ roadmap, aiming to transform the EU business environment into a true seamless single market. Companies using a European business wallet will be able to: Verify the identity of others and prove their own identity digitally. Create, store, and share trusted documents instantly, including verified licenses, permits, and certificates. Sign, timestamp, and seal documents electronically. Delegate legal authority to representatives. Communicate securely with other businesses or public administrations through an efficient digital channel. Key provisions of the Council’s position Interoperability: the Council emphasises that European business wallets should complement rather than replace existing national B2B and B2G systems. Equivalence: While digital actions via European business wallets are largely recognised as legally equivalent to traditional paper-based processes, the Council specifies that national administrative and procedural requirements remain applicable. Power of attorney/legal mandates: Member states specify that the authorisation system established in the proposal is not intended to affect any power of attorney or legal mandates provided under national or Union law. EBW providers: To enhance cybersecurity, the Council raised the threshold for European business wallet provider authorisation. Member states also introduced an obligation for the Commission to adopt implementing acts detailing the specifics of the paperwork that needs to be submitted by aspiring European business wallet providers. In case of systemic non-compliance by European business wallet providers, the Council also ensured stronger involvement of the national supervisory body. Timings: national supervisory bodies reviewing provider applications have been accorded extended deadlines (up to 60 days instead of the 30 days initially proposed). Furthermore, all the timelines have been grouped and streamlined in the proposal for better clarity. Next steps Now that the Council has reached a general approach, negotiations with the European Parliament in the framework of the ordinary legislative procedure may begin as soon as the latter has adopted its position. General approach Proposal for a regulation on the establishment of European Business Wallets EU law tracker European Council conclusions, 19 March 2026 Boosting EU competitiveness: the way forward (background information) Timeline: Moving to a deeper single market (background information) Visit the meeting page Press contacts Niels Timmermans Press officer +32 470 18 22 47 +32 2 281 32 65 @timmermansniels @nielstimmermans.bsky.social If you are not a journalist, please send your request to the public information service . Topics Competitiveness Industry Cybersecurity Digital economy Single market Download as pdf Subscribe to press releases Last review: 9 June 2026