Microsoft is already partners with global payment giant Mastercard through an Azure integration in the Mastercard Track service. Furthering their collaboration, the two companies have revealed a new project to improve how customers use digital identity.
In an announcement blog post, Microsoft explains that despite living in a digital world, most users still need proof of identity to be managed by a central service. For example, a driver’s license or passport number.
This system is too complication, Microsoft argues, while security checks to prove identity are also growing in complexity. By working with Mastercard, Redmond wants an instant digital verification process for smoother identity management.
The two companies are creating a service that gives users the ability to choose how they manage identity data.
“Today’s digital identity landscape is patchy, inconsistent and what works in one country often won’t work in another. We have an opportunity to establish a system that puts people first, giving them control of their identity data and where it is used,” says Ajay Bhalla, president, cyber and intelligence solutions, Mastercard. “Working with Microsoft brings us one step closer to making a globally interoperable digital identity service a reality, and we look forward to sharing more very soon.”
Among the potential services such an identity management service could unlock includes:
- “Financial Services: Improve and speed the applicant identification process for establishing a new bank account, loan or payment service account
- Commerce: Enable a more personalized and efficient shopping experience online and in stores, regardless of the payment type, device or service provider
- Government Services: Simplify interactions with government agencies and services – such as filing taxes, applying for passports or securing support payments (e.g., Social Security)
- Digital Services: Streamline and provide easier use of email, social media, movie/music streaming services, and rideshare platforms”
“Digital identity is a cornerstone of how people live, work and play every day.” Said Joy Chik, corporate vice president, Identity, Microsoft. “We believe people should be in control of their digital identity and data. We’re thrilled to first work with Mastercard to bring new decentralized identity innovations to life.”
The new collaboration is the underpinning of Microsoft’s recent partnership with Mastercard through Azure. In September, the companies announced Mastercard Track will be powered by Microsoft’s cloud platform.
Mastercard Track is a B2B platform that connects suppliers and customers with financial institutions, networks, and providers. Using the platform, users can manage compliance, payments, and identity across networks.