Mastercard Teams Up with Microsoft on Digital Identity Project
Mastercard and Microsoft have launched a partnership to tackle digital identity verification, in an effort to do away with passwords as a means for securing digital accounts. The two companies are aiming to develop a secure, instant way to verify themselves online on any site or app, at any time.
The two companies are aiming to do away with the necessity of using physical or digital proof, such as a driver’s licence, passport number, user credentials, or other means, managed by a central party to verify their identity online.
More importantly, Mastercard appears to intend to do away with the concept of passwords altogether. The payments provider says that the need to remember several passwords, places a burden on user and adds unnecessary complexity to the process of proving their identity and managing their data.
Mastercard is working with Microsoft to change this, vowing to create a service that allows individuals to enter, control and share their identity data their way-on the devices they use every day.
The companies have so far offered little detail on their plans, simply saying that Mastercard will create services powered by Microsoft Azure and built in collaboration with leaders in the banking, mobile network operator and government communities.
Mastercard did not immediately respond to a request for comment.