Mastercard expands identity verification services across Europe
Mastercard expands its Identity Verification service across Europe, streamlining customer checks using payment card data to boost security and privacy.
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Editorial Team
- October 15, 2024
- 2 minutes
Mastercard has announced the expansion of its Identity Attribute Verification service across several European countries, aiming to enhance the security and efficiency of online identity checks. This new service enables businesses and financial institutions to verify key customer details, such as age, date of birth, and address, using existing payment card data, without the need for customers to upload additional documentation such as photo IDs or proof of residency.
The pilot launch of this service, which will begin in select European markets, marks another step in Mastercard’s strategy to build greater trust in the digital economy. By leveraging payment card technology, the service aims to streamline the identity verification process for both consumers and businesses.
Dennis Gamiello, Executive Vice President of Identity at Mastercard, highlighted the benefits of the service, stating: “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.”
This initiative follows Mastercard’s efforts to enhance security and privacy in digital transactions. The company has been working with merchants and financial institutions to assess risk by using customer information such as name and payment data. The Identity Attribute Verification service builds on this foundation, providing issuers with the ability to verify more detailed personal information while aligning with new industry standards set by EMVCo.
Mastercard’s focus on expanding digital verification comes amid growing demand for secure online transactions. The company has stated its intention to extend the service to additional European markets in 2025, as part of a broader effort to address the increasing need for accurate and secure identity checks. The service is also designed to support user privacy, with Mastercard emphasising that only essential data, which consumers have consented to share, will be used for verification.
This expansion is part of Mastercard’s wider cybersecurity strategy, which recently included the acquisition of Recorded Future for $2.65 billion. This deal is expected to further strengthen its capabilities in fraud prevention and digital identity verification.
