PURCHASE, N.Y.—As online identity management grows in importance, Mastercard has purchased identity verification company Ekata for $850 million.
“Mastercard certainly sees the rapid digital transformation that is happening in online commerce, a move that was accelerated by COVID,” Tech Crunch said.
With Ekata, Mastercard gets a solution that can verify the online identity of a person making the transaction in real time using various signals that can indicate if a transaction is fraudulent or true as consumers open an account or transact business.
Ekata provides a score and other data that predicts the likelihood a person is who they say they are.
“It’s not unlike a credit risk score, except for it’s for identity,” Tech Crunch noted.