Mastercard acquires digital identity company

Ekata works with a wide range of global merchants, financial institutions, travel companies, marketplaces, and digital currency platforms

Mastercard Ekata

Mastercard acquires digital identity company. Source: shutterstock.com

Mastercard has taken steps to advance its identity verification efforts with the acquisition of Ekata for $850 million.

Ekata uses insights to deliver unique scores, data attributes, and risk indicators that businesses then use to make more informed decisions. They help their customers identify good consumers and businesses and bad actors in real-time during online account opening, payments, and a variety of other digital interactions.

The shift to a more digital world requires real solutions to secure every transaction and instill trust in every interaction. With the addition of Ekata, we will advance our identity capabilities and create a safer, seamless way for consumers to prove who they say they are in the new digital economy
Ajay Bhalla, president of cyber and intelligence solutions at Mastercard

Ekata’s identity verification data, machine learning technology and global experience combined with Mastercard’s fraud prevention and digital identity programs will help businesses confidently know who their customers are and, in turn, help those customers safely interact online.

Mastercard and Ekata’s integrated services will build on both companies’ commitments to ensure trust and the responsible use of data.

We’ve reported that Mastercard introduced carbon calculator tool for banks.

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