In a world where everything from gaming to renting a car to accessing government services is available with just a click, confirming our identity should be just as easy — and secure. There are basic attributes to prove someone is who they claim to be, and that they meet the necessary requirements, such as age or geographic location, for example, to make those purchases or access those services.
Mastercard already helps merchants and financial institutions assess risk through attributes like name and payment information as the payment card scheme enable billions of digital interactions around the world, instilling trust in the digital economy. Now, thanks to new EMVCo industry specifications and Mastercard’s Identity Attribute Verification service, issuers will soon be able to confirm cardholders’ additional attributes, such as their age, date of birth or address.
„Using the technology behind a payment card, our solutions will allow our partners to seamlessly verify that a consumer meets the criteria for certain goods and services while protecting their privacy. Doing so eliminates the often cumbersome task of uploading documents like photo ID, proof of residency or passport.” – said Dennis Gamiello – executive vice president, Identity Products and Innovation at Mastercard.
He added: „Initially, we will focus on a few countries across Europe, with plans to expand into additional markets in 2025. We’ll work with governments and organizations that are looking for seamless ways to verify identity attributes more accurately and confidently. It’s by working with others that we will be able to scale attribute verification and continue to build trust in the digital world.„
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
