Hoping to further the advancements of digital identity technologies, Mastercard announced that it will join the ID2020 Alliance to investigate and collaborate with other organizations that are innovating in user-managed digital identity solutions.

Due to the rise of digital dependency as a result of the COVID-19 pandemic, individuals are increasingly using digital services such as social media, online learning and media streaming. By joining the ID2020 Alliance, Mastercard hopes to drive digital identity as not only a safety and security measure, but also a necessity for all individuals.

Identity As a Right for All

The ID2020 Alliance is a global partnership bringing together governments, NGOs and the private sector to establish identity as a basic human right. The consortium approach ensures that technology development is informed by the needs of countries and individuals, and that policies and standards reflect the latest technological innovations. With the new partnership in place, Mastercard hopes to support this organization as a response to the world’s digital dependency on daily online transactions.

“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,”

A Commitment to a Connected Society and World

From Mastercard’s commitment to providing data ownership, consent, confidentiality and transparency, the ID2020 partnership serves as a step toward providing viable and impactful solutions using digital identity technologies such as blockchain and biometrics. According to ID2020 Executive Director Dakota Gruener, “Digital identity can be a powerful force multiplier to enhance social and economic opportunities for all people. 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.”