Mastercard Joins ID2020 AllianceMay 21, 2020 | Purchase, NY
Partnership accelerates access to and adoption of digital identity solutions
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.
About Mastercard (NYSE: MA)
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.
ID2020 is a global public-private partnership that harnesses the collective power of nonprofits, corporations, and governments to promote the adoption and ethical implementation of user-managed, privacy-protected, and portable digital identity solutions. Through its advocacy, project funding, technical support, and by certifying best-in-class identity solutions, ID2020 is helping strengthen social and economic development globally. Alliance partners are committed to a future in which all of the world’s seven billion people can fully exercise their basic human rights and reap the benefits of economic empowerment and to protecting user privacy and ensuring that data is not turned into a commodity.
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