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Fintech & Ecommerce

Mastercard joined global partnership for digital identity solutions

May 22, 2020

The Alliance welcomes Mastercard to accelerate the adoption of digital identity solutions??

digital identity

Mastercard joined global partnership for digital identity solutions. Source: pixabay.com

Mastercard will join the ID2020 Alliance, a multi-stakeholder partnership dedicated to providing access to a viable form of legal identity.

According to a statement, the recent implementation of global social distancing increased people’s digital dependency.? For instance, users are signing up for a range of digital services like social media, entertainment streaming, telemedicine, and remote learning.? That’s why the role that identity plays an important role in enabling trust.

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. 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
Ajay Bhalla, president, Cyber & Intelligence, Mastercard

Besides, the fact of holding a viable and trusted digital identity will allow everyone to connect and discover more possibilities of the digital world.

We’ve reported that blockchain-based digital identity revenue will reach $1 billion by 2024. This is up from an expected $100 million by the end of this year.

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