Mastercard today announced that it will join the ID2020 Alliance, a global multi-stakeholder partnership dedicated to enabling everyone to have access to a viable and trusted form of legal identity.
With the recent implementation of social distancing around the world, our digital dependency has become even greater. Individuals are signing up and logging in to a range of digital services – social media, entertainment streaming, telemedicine and remote learning, to name just a few. What is critical in each of these interactions is the role that identity plays in enabling trust and the need to prove who we are safely and conveniently, wherever we are.
“We share the belief with ID2020 that digital identity is a fundamental human right that each individual has control over; that digital identity is a crucial step towards financial inclusion and to building a world where technology empowers, enables and protects everyone,” said Ajay Bhalla, president, Cyber & Intelligence, Mastercard. “We must work together to establish consistency and common standards across the globe that can make this a reality, addressing real challenges faced by people every day and sparking continued innovation.”
As we accelerate towards more digital interactions and the verification associated with that, managing this rapid shift holistically and responsibly is crucial to ensure that no-one is left behind. Mastercard recognizes that holding a viable and trusted digital identity will allow everyone to connect and realize the opportunities presented by our increasingly digital world. By joining the ID2020 Alliance, who are strong advocates for digital identity in developing markets, both companies believe their collective technologies, networks and connections can better bridge the gap and provide viable solutions for everyone.
"Digital identity can be a powerful force multiplier to enhance social and economic opportunities for all people,” said ID2020 Executive Director, Dakota Gruener. “But to fully realize that potential, governments, technology companies, financial institutions and civil society must collaborate. We are delighted to welcome Mastercard to the ID2020 Alliance and applaud their commitment to privacy-protecting, user-centric digital identity.”
The collaboration with ID2020 builds on Mastercard’s commitment to improve how people manage and use their digital identity and follows the publication of the company’s model for digital identity in an increasingly connected world. The model is founded on user-centric principles such as data ownership, confidentiality, consent and transparency, and embodies privacy-by-design.