Mastercard Focuses on Digital Identity Innovation with Close of Ekata Acquisition
Mastercard (NYSE: MA) has finalized its acquisition of Ekata, an identity verification service provider, enhancing its digital identity and fraud prevention efforts. Ajay Bhalla, President of Cyber and Intelligence at Mastercard, emphasized the commitment to integrate teams and advance identity capabilities to ensure secure online interactions. This acquisition aims to assist businesses in identifying customers accurately while advocating for data privacy and security. The move underscores the importance of creating trust in an increasingly digital world.
- Acquisition of Ekata enhances Mastercard's fraud prevention and digital identity capabilities.
- Integration of Ekata's machine learning technology will improve identity verification processes.
- Strengthens Mastercard's position in digital economy by promoting safer online interactions.
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Mastercard (NYSE: MA) today announced it has completed its acquisition of Ekata, a leading provider of identity verification services that help businesses make more informed decisions during online account opening, payments and a variety of other digital interactions.
“We’re delighted to welcome the Ekata team to Mastercard,” said Ajay Bhalla, president, Cyber and Intelligence, Mastercard. “Our focus will now be on bringing our talented teams together and advancing our identity capabilities to create a safer, seamless way for consumers to prove who they say they are in the new digital economy. Central to all of this is the balance of a frictionless experience with the trust delivered through a relentless commitment to customer privacy, control and security.”
Proving your identity is critical to creating trust in our increasingly digital world. And for those who do not have an official identification, they face greater barriers to financial inclusion and health inclusion.
Ekata's identity verification data, machine learning technology and global experience will add to Mastercard's fraud prevention and digital identity programs. The combined services will help businesses confidently know who their customers are and, in turn, help those customers safely interact online, while continuing to advocate and support the responsible use of data.
About Mastercard
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all. www.mastercard.com
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