News

Mastercard, Optus partner for Digital Identity services in Australia

Friday 20 November 2020 14:25 CET | News

Mastercard and Optus have announced a strategic partnership to provide customers a convenient way to prove their identity online and in-store. 

In using ID, the Mastercard digital identity service, Optus will strengthen its identity verification and authentication process while retaining its digital-first customer experience. Optus will progressively offer the service to its nearly six million customers who have downloaded the My Optus app. Its introduction will enable customers to create a secure, reusable, and verified digital identity that can be used when purchasing a new device, making account changes, buying additional services, and more. Effective identity verification is an important measure in tackling SIM-related fraud such as SIM swapping, which research suggests has increased by 400% since 2015 in some countries, according to the official press release.

The partnership will provide Optus customers with a non-paper based way to verify their identity, replacing traditional processes involving physical documents such as passports or driving licenses. Mastercard’s digital identity service gives the customer full control over what information is shared and can only be accessed once the user verifies their identity using the biometric capabilities built into their mobile device.


More: Link


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Mastercard, Optus, digital identity, Australia, partnership, fraud, SIM swapping, identity verification, biometric
Categories: Banking & Fintech | Digital Identity, Security & Online Fraud
Countries: Australia
This article is part of category

Banking & Fintech