🎉 Europe: 📱Mastercard Launches Identity Data Verification Service

🎉 Europe: 📱Mastercard Launches Identity Data Verification Service

Identity Attribute Verification will enable merchants to enhance security in their interactions with customers. Trials for this feature will be conducted primarily in the United Kingdom 🇬🇧.

⏩ Alongside EMVCo standards, cardholders’ age, date of birth, and address will now be verified. However, it will no longer be necessary to upload documents like a photo ID, proof of address, or passport.

⏩ These new capabilities strengthen the existing Consumer Fraud Risk (CFR) solution, which protects against fraud in real-time payments.

⏩ Interesting fact: As of January 2024, there were 58.5 million credit cards in circulation in the United Kingdom, linked to 36.5 million active accounts.

#news #Europe

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