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Digital Identity, Security & Online Fraud

Mastercard joins Microsoft for advanced digital identity innovations

Tuesday 4 December 2018 | 10:35 AM CET

Mastercard and Microsoft have announced a strategic collaboration to improve how people manage and use their digital identity.

Currently, verifying users’ identity online is still dependent on physical or digital proof managed by a central party. This dependence places a huge burden on individuals, who have to successfully remember hundreds of passwords for various identities and are increasingly being subjected to more complexity in proving their identity and managing their data.

The answer to these challenges is a service that would allow individuals to enter, control and share their identity data their way–on the devices they use every day. Moreover, this digital identity initiative could also help solve for common challenges such as identity inclusion, identity verification, and fraud prevention.

More than 1 billion people, a majority of them women, children and refugees, are not officially recognized; a digital identity can improve their access to health, financial and social services. Also, a single, reusable digital identity can help people interact with a merchant, bank, government agency and countless other digital service providers with greater integrity, lower cost and with less friction.

Additional details on these efforts will be shared in the coming months.

More: Link
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