Mastercard is set to launch a pilot program for a new service that allows issuers to verify detailed personal information about cardholders, reducing the need for document uploads like photo IDs, proof of residency, or passports.
The Identity Attribute Verification service will be tested in several European markets and is based on new industry standards established by EMVCo. This innovative service will enable issuers to confirm additional cardholder details, such as age, date of birth, and address, enhancing the security and accuracy of digital transactions.
Dennis Gamiello, EVP of identity at Mastercard, highlights the benefits of this technology: “By leveraging the underlying technology of a payment card, our solutions will enable partners to efficiently verify that consumers meet the requirements for specific goods and services while safeguarding their privacy. This approach eliminates the often cumbersome task of uploading documents like photo ID, proof of residency, or passport.”
The card scheme intends to extend this enhanced identity verification service to more European markets within the next year, addressing the increasing demand for reliable and secure verification of essential attributes such as age and location.