Mastercard has announced that it will collaborate with Samsung to explore ways to verify users’ digital identities on their mobile devices.
“Our digital and physical lives are merging and we need a digital identity solution that reflects this reality,” said Ajay Bhalla, president of cyber & intelligence at Mastercard.
“Without control over how their data is used, people rely on outdated systems that can compromise their security.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.”
Mastercard’s model for digital identity is founded on principles such as data ownership, confidentiality, consent, and transparency. The company said this model embodies privacy-by-design and does not collect identity data.
Samsung’s executive VP and head of the service business at Samsung Mobile, Yongje Kim, said the company is looking forward to seeing what the company’s partnership with Mastercard can achieve.
“At Samsung, we believe consumers should be in complete control of the privacy and security of their personal identity and we’re excited to work with Mastercard to bring the first digital identity solution to Samsung smartphones.”