Mastercard trials digital identity tech
Mastercard is carrying out the first pilot of a digital identity programme designed to let people prove who they are immediately, safely and securely in both the digital and the physical world.
How companies use consumer data in the digital era has been in the spotlight recently, with Facebook the most glaring example of a big tech firm that has found itself at the centre of a damaging privacy crisis.
Earlier this year, Mastercard published a vision paper setting out 10 principles on data rights and ownership, confidentiality, consent, transparency, security and inclusion, with a central theme of 'privacy-by-design'.
Now, the payments giant has teamed up with Deakon University in Australia to pilot an identity verification process for student registration and digital exams.
A separate partnership with Australia Post will integrate the agency’s existing Digital iD solution and expand the ability for Australians to identify themselves easily when accessing services.
Ajay Bhalla, president, cyber and intelligence, Mastercard, says: “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.”-Finextra