Mastercard biometric digital identity service selected by Australian telecom for all channels
Mastercard has partnered with Australian telecom Optus to integrate the payments company’s biometrically-secured digital identity service ‘ID’ with its mobile, voice, and retail channels for convenient identity validation on or offline.
The integration allows Optus to offer the six million customers who have downloaded its My Optus app to create a digital identity they can use for transactions like purchasing a new device, making account changes, buying additional services.
The partnership also gives Optus customers a way to replace legacy paper-based identity verification with a safe and convenient digital option, according to the announcement. Mastercard’s ID service gives them full control over information sharing, with access to personal data available only through the biometric capabilities of the customer’s mobile device.
“Optus’ partnership with Mastercard provides our customers with the option to embrace the benefits of a digital identity, not only when they interact with us, but with other organisations too,” said Vaughan Paul, Optus Vice President, Digital Consumer. “ID solves pain points for our customers, such as protecting their identity, while at the same time simplifying the verification of their identity, giving them more control over their personal information and streamlining transactions.”
Fraud related to SIMs, such as SIM-swapping, which Mastercard suggests has increased, makes effective identity verification important, and with the partnership Optus becomes one of a small group of multi-national organizations proactively implementing biometrics to protect SIM registrations, the companies say.
Mastercard and Optus are closely collaborating to create a unique and enhanced user experience for onboarding and checkouts, while better protecting customers’ personal identity information, Mastercard Australia Division President Richard Wormald says in the announcement.
“This collaboration builds on Mastercard’s commitment to improve how people manage and use their digital identity, providing a more efficient way to interact with businesses and service providers in the physical and digital worlds. Collaborating with trusted technology providers, such as Optus, is critical for Mastercard as we advance the delivery of a globally scalable digital identity service,” adds Ajay Bhalla, President, Cyber and Intelligence at Mastercard.
Mastercard also recently rolled out Signzy’s biometric video service for KYC checks.