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Mastercard Introduces Consumer-Centric Model for Digital Identity

– Mastercard

  • Explainer
  • Posted by Good ID team (Good ID)
  • 24 April 2019

In March 2019, Mastercard presented its new framework of how digital identity will work for its systems, “starting with the individual sitting at the heart of every digital interaction”

The company published the new paper, Restoring Trust in a Digital World, which details its “Principles of Digital Identity” that focus on “data rights and ownership, confidentiality, consent, transparency, security, and inclusion.”

Mastercard’s full list of principles include inclusion, ownership, simplicity, confidentiality, consent, transparency, security and integrity, data rights, fair use, and choice.

The company has also outlined their current definition of digital identity, what they consider to be the biggest issues with identity systems today, and their solution for identity verification moving forward.

As Mastercard notes in this press release:

These principles amount to a fundamental individual right: “I own my identity and I control my identity data.”

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