Mastercard forms partnership with Samsung to improve mobile security for users

CAPE TOWN – MasterCard announced a new partnership with Samsung to explore ways to verify users’ digital identities on their mobile devices.

Ajay Bhalla, president of cyber & intelligence at Mastercard, said in a statement: “Our digital and physical lives are merging and we need a digital identity solution that reflects this reality. Without control over how their data is used, people rely on outdated systems that can compromise their security. Our collaboration with Samsung advances a digital identity solution that is bound to a trusted device – the mobile phone – which is used by millions of people every day.”

People will soon be able to access a digital identity capability on their devices for interactions in both the physical and digital worlds. This will provide consumers with a more efficient way to interact with businesses and service providers, whether opening a bank account, accessing e-mail and social media, video streaming or shopping online.

The collaboration with Samsung builds on Mastercard’s new business model that aims to help users manage and use their digital identity in a connected world

The model is founded on user-centric principles such as data ownership, confidentiality, consent and transparency, embodies privacy-by-design and does not collect identity data.

Written by: Gabriella Steyn.

Guzzle Media