EU's New Digital Wallets and Rules: A Game-Changer for Businesses and Innovation

Published: 20 Nov 2025

Author: Precedence Research

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Europe is on the verge of a digital transformation, setting new digital rules from large factories to emerging start-ups, aiming to save billions of businesses and boost innovation in the country, rather than focusing solely on administrative work as it has for decades. It is possible due to the European Commission’s new digital package. This initiative will present opportunities for European companies to lead and grow, remain competitive amid technological revolutions worldwide, and uphold high standards for fundamental rights, data protection, and safety and liberty.

This package encompasses a ‘digital omnibus’ that streamlines rules on AI, cybersecurity, and data, supported by a ‘Data Union strategy’ to explore high-quality data for AI and European business wallets, aiming to offer companies a unique digital identity to simplify paperwork and make it easier to do business across European states. This package is estimated to save up to 5 billion euros in administrative costs by 2029. Also, European businesses' wallets could lead to 150 billion euros in savings each year.

Moreover, the benefits of digital omnibus include AI rules that foster innovation and positively influence society, safety, and basic human rights, as per the new AI Act. Omnibus introduces a single-entry point for all businesses to meet their incident-reporting obligations. Currently, every company must register cybersecurity incidents under various rules, such as the NIS2 directive, DORA, and GDPR. Targeted amendments to the GDPR will clarify certain rules to escalate innovation without compromising security safeguards and will undergo comprehensive testing to ensure its authenticity. These amendments will further modernize cookie rules to enhance users' online experiences and improve data access. This digital package targets to strengthen data access while simplifying data rules and making them highly practical for users and businesses by

Reinforcing EU data rules by using the Data Act.

Presenting targeted exemptions to some of the Data Act and its cloud switching rules for SMEs and SMCs results in nearly 1.5 billion euros in one-off savings.

Supporting European AI companies by giving access to high-quality datasets for AI.

The Digital Package is the seventh omnibus proposal from the Commission, aimed at simplifying EU regulations to boost the competitiveness and prosperity of the EU economy. By streamlining processes, the Commission plans to make doing business in the EU easier, less expensive, and more efficient. With a clear target to reduce administrative burdens by at least 25%, and 35% for SMEs, the Commission is committed to delivering this unprecedented simplification effort by 2029.