Mastercard announces the pilot launch of its Identity Attribute Verification service across several European markets, reinforcing its commitment to fostering trust within the digital economy. This innovative service allows businesses to authenticate customer identity attributes in a secure and efficient manner.
For years, Mastercard has been at the forefront of assisting merchants and financial institutions in risk assessment, utilizing critical data points such as name and payment details to facilitate billions of secure digital transactions worldwide.
With the implementation of new industry standards from EMVCo, Mastercard’s Identity Attribute Verification service empowers issuers to confirm essential cardholder information, including age, date of birth, and address. This enhancement significantly improves the security and precision of online transactions, aligning with a broader initiative to provide businesses with reliable methods for verifying customer identities.
“Our solutions leverage payment card technology to enable our partners to effortlessly validate that consumers meet specific requirements for certain goods and services, all while safeguarding their privacy. This advancement streamlines what has traditionally been a laborious process involving the submission of documents like photo IDs, proof of residency, or passports,” stated Dennis Gamiello, EVP of Identity at Mastercard.
Looking ahead, Mastercard plans to broaden the reach of its Identity Attribute Verification service to additional European markets within the coming year. This expansion addresses the increasing demand for precise and secure digital verification of critical attributes while ensuring user privacy remains a top priority.
This article is for informational purposes only and does not constitute financial or legal advice.
