Microsoft and Mastercard are collaborating to improve how people manage and use their digital identity by advancing innovations in this area. The collaboration aims to offer people a secure, instant way to verify their digital identity.
“Today’s digital identity landscape is patchy, inconsistent and what works in one country often won’t work in another,” said Ajay Bhalla, president of Cyber and Intelligence Solutions at Mastercard. “We have an opportunity to establish a system that puts people first, giving them control of their identity data and where it is used. Working with Microsoft brings us one step closer to making a globally interoperable digital identity service a reality, and we look forward to sharing more very soon.”
Access to a universally-recognised digital identity could provide users with new and enhanced experiences, including: improving the identification process when establishing new bank accounts or loans; enabling a more personalise and efficient shopping experience; simplifying interactions with government agencies and services; and streamlining the use of email, social media and streaming services.
The initiative could also help with security challenges, such as identity inclusion, enabling those who are not officially recognised (for example, refugees) with a digital identity allowing them access to health, financial and social services, and fraud prevention.
“Digital identity is a cornerstone of how people live, work and play every day,” said Joy Chik, corporate vice president of Identity at Microsoft. “We believe people should be in control of their digital identity and data, and we’re thrilled to first work with Mastercard to bring new decentralised identity innovations to life.”
This initiative will serve as the foundation for new Mastercard services powered by Microsoft Azure.
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