MasterCard and Samsung work together on digital ID development

In the digital age, people have to set and remember a lot of passwords to keep their data and assets safe, or provide a lot of personal information to agencies. And the more information is shared, the greater the risk, and the gradual loss of absolute control over personally identifiable data.

In response to this issue, Mastercard group recently announced that it will cooperate with Samsung electronics group of South Korea to develop more secure and convenient digital authentication products.

It is reported that the model is based on user-centric principles, to ensure data ownership, confidentiality, consent and transparency, such as the embodiment of privacy design, and do not collect identity data.

It is understood that Samsung and VISA are not the first time to cooperate on the payment business, , As early as 2015 two companies to reach a partnership, Samsung mobile phone users MasterCard cardholders through  “Samsung Pay ” This mobile payment service, you can use Samsung mobile phones for daily offline consumption.