Corporate Payments | Use Case

Today, corporate payment processes can vary across the EU, and most digital identity wallets focus on individuals, offering limited support for businesses and employee-initiated payments. While existing systems generally work, this can sometimes add steps or some complexity for cross-border transactions.

EU Business Wallets (EBW) and EU Digital Identity Wallets (EUDIW) have the potential to enhance corporate payments across the EU.

By using verified business identities, e-invoicing, and bank-led strong customer authentication, EBW can support secure and interoperable B2B payment flows, improve traceability and transparency, and help streamline administrative processes for businesses and public authorities. These tools could complement current systems and contribute to more efficient cross-border business payments within the Single Market.

For example

A business sends an electronic invoice to a customer in another EU country. The customer receives and validates the invoice through their national system and then starts the payment based on the invoice details. Using the EU Digital Identity Wallet, the customer shares the verified invoice with their bank. The bank confirms the invoice is genuine, checks the supplier’s bank details, verifies the customer’s authorisation, and approves the payment using strong authentication. Once the payment is completed, a digital proof of payment is created, making cross-border business payments faster, safer, and more transparent across the EU.

What we’re aiming for:

Reduce fraud risk

Enable faster payment settlement

Improve traceability and transparency

Improve user experience and reduce administrative burden

Use Cases

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USE CASE

Know Your Business Partner (KYC/KYS/KYB due diligence)

Business due diligence within the EU involves verifying and establishing trust in business partners across Member States. Through KYC (Know Your Customer), KYS (Know Your Supplier) and KYB (Know Your Business) procedures, organisations assess legitimacy, ownership structure, financial soundness and regulatory compliance - all essential for safe and efficient cross-border cooperation.

USE CASE

Create Company Branch

Creating a company branch in the EU involves enabling businesses to expand across member states while ensuring compliance, transparency, and security of corporate data. It’s a key enabler for European businesses to operate and scale with confidence across borders.

USE CASE

Foreign Tax Declaration

Foreign tax declaration in the EU ensures that companies comply with tax obligations when operating across member states, particularly in cross-border structures involving parent companies and subsidiaries. It is a critical enabler of transparent and lawful business activity within the EU Single Market.

USE CASE

Company Representative acting on behalf of a Company

Authorizing individuals to act legally and digitally on behalf of a business across member states, and defining which activities they are permitted to perform, is a key enabler for efficient cross-border operations, including administrative procedures and banking services.

USE CASE

Issuing Micro-Credentials and Verified Skills

Micro-credentials and verified skills enable individuals to develop and demonstrate specific skills and competences through digital certificates linked to short-term learning, training or practical experience. This is a critical enabler of lifelong learning, workforce mobility, and skills transparency across Europe.

USE CASE

Business Access to Once-Only Technical System (OOTS)

The Once-Only Technical System (OOTS) streamlines data retrieval for cross-border procedures, enhancing trust, efficiency, and data exchange among EU public administrations and citizens. It connects public authorities across the EU, so they can exchange official documents and data at the citizen's or business's request. It’s a key component for improving registration, compliance, and reporting processes across the EU.

USE CASE

Authentication & Access for Transport

Authentication and access in transport involve verifying who or what is requesting access to transport-related systems and services, and determining what actions they are authorized to perform. This is a critical enabler of seamless logistical flows across Europe and efficient global transport operations.

USE CASE

Trusted Data Sharing for Data Spaces

Data is transforming how we live, work and innovate, powering everything from personalised medicine to smarter cities. Trusted data sharing in secure Data Spaces lets organisations optimally collaborate and innovate while keeping control, privacy, and compliance. To unlock the value of data for the EU, Common European Data Spaces have been established in strategic sectors, providing an open, secure, and privacy-preserving environment. These Data Spaces enable new data-driven services and strengthen a connected, competitive European data economy.

USE CASE

eInvoicing

eInvoicing is the structured electronic exchange of machine-readable invoice data between suppliers and buyers, enabling automatic processing, as defined in EU legislation. These structured digital invoices have many benefits, from facilitating cross-border trade and reducing late payments, to enhanced error detection and clear sustainability reporting. It’s a key enabler for improving Europe’s single market in the digital age.

USE CASE

Consumer Banking

Financial services for EU citizens, such as opening a bank account in another member state, rely on strong data protection, transparency, and regulatory compliance, while keeping the process seamless for users.

USE CASE

Consumer Payments

Consumer payments in the EU involve providing fast and secure transactions across member states while protecting users and ensuring transparency.

USE CASE

Corporate Banking

Corporate banking in the EU involves enabling businesses to operate across borders through secure financial services. This includes trusted onboarding and account opening processes, during which banks verify identities and ensure regulatory compliance.