Mastercard and Microsoft have announced a partnership to develop digital authentication, media reported recently.
At present, in order to perform authentication, people usually need a variety of unified management of physical or digital proof, Such as passport number, address proof, driving license, user credentials and so on.
We need to remember all kinds of identity-related passwords, but the most common thing that happens is that we often mix them up or forget them altogether, which can be very frustrating.
Now, with the expansion of Internet and internationalization, there are more and more occasions to use passwords, so the management of identity and data is becoming more and more challenging.
Mastercard officials now say Mastercard is looking to partner with Microsoft company to develop new technology, by creating a new digital identity authentication service together with Microsoft, we hope that people will no longer be limited by time and space when conducting identity authentication.
At present, both MasterCard and Microsoft have not disclosed details of the cooperation. But Mastercard said the service will be based on MicrosoftAzure and will work actively with Banks, mobile network operators and government agencies.
Speaking of the role of identity authentication in financial services, both sides agreed that generally recognized digital identities can improve and speed up the applicant identification process, Improve the user experience of creating a new bank account, loan or payment service account.