Mastercard launched the first tests of a new digital service that has the potential to verify a person’s identity immediately, safely and securely in both the digital and the physical world.

The initial in-market pilot will take place in Australia through two separate efforts with Australia Post and Deakin University.

“Our increasingly digital life – the way we transact and interact – has challenged our traditional notions of identity, trust and privacy. We need a new model. We believe that this starts with a commitment to the responsible handling of personal information, giving consumers control over which data is used and how it is used to verify their identity.” – Ajay Bhalla, President of Cyber and Intelligence, Mastercard 

The pilot program will test a new way for people to prove their identity without having to carry multiple documents.

Instead, the model allows the data to sit with its rightful owner – the user.

It will activate a distributed model that blends information stored on an individual’s mobile device and verified by additional reference points, such as an individual’s bank or participating government agencies.

It eliminates the need for a centralized identity database.

Mastercard Reinforces Its Efforts Through Partnerships

Mastercard’s consumer-centric approach was outlined in a Principles of Digital Identity vision paper earlier this year and prioritizes privacy-by-design.

The initial phase of the pilot with Deakin University featured student volunteers testing an identity verification process for student registration and digital exams at the Burwood and Geelong campuses in Victoria.

To support its identity efforts, Mastercard has entered into a separate partnership with Australia Post to integrate the agency’s existing Digital iD solution and expand the ability for Australians to identify themselves easily when accessing services.

Following these initial efforts, additional partnerships and pilots will be introduced across a number of markets throughout 2020.

Could Mastercard’s digital ID solution be among your 2020 priorities?

Please use the comments section below or head over to our Facebook Group for Small Business Sellers and interact with other small business owners.

Follow us on Facebook, Twitter, and LinkedIn to stay up to date with relevant news and business insights for your online business.

READ MORE: Mastercard adds digital resources to new small business program



Similar Posts

Leave a Reply

Your email address will not be published. Required fields are marked *