Mastercard (NYSE: MA) today announced it has completed its acquisition of Ekata, a leading provider of identity verification services that help businesses make more informed decisions during online account opening, payments and a variety of other digital interactions.
“We’re delighted to welcome the Ekata team to Mastercard,” said Ajay Bhalla, president, Cyber and Intelligence, Mastercard. “Our focus will now be on bringing our talented teams together and advancing our identity capabilities to create a safer, seamless way for consumers to prove who they say they are in the new digital economy. Central to all of this is the balance of a frictionless experience with the trust delivered through a relentless commitment to customer privacy, control and security.”
Proving your identity is critical to creating trust in our increasingly digital world. And for those who do not have an official identification, they face greater barriers to financial inclusion and health inclusion.
Ekata's identity verification data, machine learning technology and global experience will add to Mastercard's fraud prevention and digital identity programs. The combined services will help businesses confidently know who their customers are and, in turn, help those customers safely interact online, while continuing to advocate and support the responsible use of data.