Mastercard Wades Into Murky Waters With Its New Digital ID

  • The idea of a secure, decentralized, universal ID has become a sort of holy grail in the age of rapid digital interactions and rampant identity fraud.
  • The ID would be set up through a bank or other participating institution that already holds identity information about the individual.
  • “It’s a consumer-centric model for digital identity that gives consumers control,” says Ajay Bhalla, president of cyber and intelligence solutions at Mastercard.
  • Plus, even if Mastercard’s system is robust, it will need buy-in from institutions around the world to truly become a useful form of ID.

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