Mastercard is set to pilot a groundbreaking Identity Attribute Verification service across several European markets. This new offering will enable issuers to verify more detailed personal information about cardholders, such as age, date of birth, and address, without requiring document uploads like photo IDs or passports. Utilizing industry standards developed by EMVCo, Mastercard aims to bolster the security and accuracy of digital transactions by extending verification beyond the conventional name and payment details.
According to Dennis Gamiello, Mastercard's EVP of Identity, this service will allow seamless verification of consumer eligibility for various goods and services while safeguarding privacy. The card scheme plans to introduce this enhanced identity verification service to more European markets within the next year to meet the increasing demand for secure and precise digital identity verification.
Source: Finextra
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