Mastercard Joins Alliance to Accelerate Digital Identity Solutions.

Partnership accelerates access to and adoption of digital identity solutions.

Mastercard

Purchase, NY, May 23, 2020 — Mastercard today announced that it would join the ID2020 alliance, a global multi-stakeholder partnership dedicated to enabling everyone to have access to a viable and trusted form of legal identity.

With the recent implementation of social distancing around the world, our digital dependency has become even more significant. Individuals are signing up and logging in to a range of digital services - social media, entertainment streaming, telemedicine, and remote learning, to name just a few. What is critical in each of these interactions is the role that identity plays in enabling trust and the need to prove who we are safely and conveniently, wherever we are, Mastercard said.

“We share the belief with ID2020 that digital identity is a fundamental human right that each individual has control over. And that digital identity is a crucial step towards financial inclusion and to building a world where technology empowers, enables and protects everyone,” said Ajay Bhalla, President, Cyber & Intelligence, Mastercard. “We must work together to establish consistency and common standards across the globe that can make this a reality, addressing real challenges faced by people every day and sparking continued innovation.”

As the world accelerates towards more digital interactions and the verification associated with that, managing this rapid shift, holistically and responsibly, is crucial to ensure that no-one is left behind. Mastercard said it recognizes that holding a viable and trusted digital identity will allow everyone to connect and realize the opportunities presented by the increasingly digital world. By joining the ID2020 Alliance, who are strong advocates for digital identity in developing markets, both companies believe their collective technologies, networks, and connections can better bridge the gap and provide viable solutions for everyone.

“Digital identity can be a powerful force multiplier to enhance social and economic opportunities for all people,” said ID2020 Executive Director, Dakota Gruener. “But to fully realize that potential, governments, technology companies, financial institutions, and civil society must collaborate. We are delighted to welcome Mastercard to the ID2020 Alliance and applaud their commitment to privacy-protecting, user-centric digital identity.”

Mastercard said its collaboration with ID2020 builds on Mastercard’s commitment to improving how people manage and use their digital identity and follows the publication of the company’s model for digital citizenship in an increasingly connected world. The model is founded on user-centric principles such as data ownership, confidentiality, consent, and transparency, and embodies privacy-by-design.

Mastercard is a global technology company in the payments industry. “Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart, and accessible. Our innovations and solutions help individuals, financial institutions, governments, and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all,” Mastercard declared.

ID2020 is a global public-private partnership that harnesses the collective power of nonprofits, corporations, and governments to promote the adoption and ethical implementation of user-managed, privacy-protected, and portable digital identity solutions.

Source: Mastercard

|GlobalGiants.Com|

Edited & Posted by the Editor | 10:58 AM | Link to this Post

May 24, 2020

Mastercard Joins Alliance to Accelerate Digital Identity Solutions.