Mastercard has launched an Identity Attribute Verification service that allows online verification of customer data like age and address using payment card information. The service, set to roll out initially in select European countries, aims to protect user privacy while eliminating the need for document uploads. This initiative aligns with EMVCo specifications and Mastercard’s broader efforts in advancing identity verification and biometric payment technologies.
Mastercard has introduced a new Identity Attribute Verification service designed to facilitate online interactions utilizing payment card data, following recent specifications from EMVCo. This service aims to simplify verification processes for attributes such as age and physical address by allowing relying parties to request validation directly from Mastercard. The validation procedure takes place “in the background” where Mastercard checks its customer database linked to the payment card and provides the necessary information. This initiative was guided by the release of the EMV 3-D Secure Attribute Verification Message Extension v1.0 on July 31. Dennis Gamiello, executive vice president at Mastercard, emphasized the service’s design to protect consumer privacy while easing the burden of document submissions typically required for identity verification. He articulated that their technology will enable partners to verify consumer qualifications for products and services without requiring users to upload sensitive documents like photo IDs or proof of residency. He also highlighted MasterCard’s commitment to Privacy by Design principles, ensuring that only the user-agreed data is shared during transactions. The initial rollout will occur in select European countries, with plans for further expansion globally by 2025. With such initiatives, Mastercard continues to enhance its offerings in identity verification, KYC, and payment authentication, including recent advancements in biometric technology for checkout processes. Gamiello also hinted toward the future possibilities of in-person biometric verifications in their podcast discussions, indicating a comprehensive approach to customer verification across digital and physical domains.
The backdrop of Mastercard’s Identity Attribute Verification service is set against a growing need for seamless and secure verification processes in online transactions. As digital commerce expands, businesses and financial institutions are faced with the challenge of verifying customer identities while balancing efficiency and privacy. EMVCo, a consortium responsible for developing global technical standards for secure payment transactions, released the new specifications that guide these verification services, thus standardizing protocols that enhance security and reduce fraud. This development aligns with trends emphasizing user privacy, as companies are called to innovate solutions that minimize unnecessary disclosures of personal information.
Mastercard’s launch of the Identity Attribute Verification service marks a significant advancement in the way online transactions can authenticate consumer identities securely and privately. By leveraging payment card data for attribute verification without intrusive document submissions, Mastercard not only streamlines the verification process but also adheres to privacy standards guiding modern transaction systems. With intended expansion plans and an ongoing commitment to incorporating biometric technologies, Mastercard is positioning itself as a pioneer in the evolving landscape of identity verification.
Original Source: www.biometricupdate.com
