New partnership between Mastercard and Samsung

New partnership between Mastercard and SamsungMobile shopping can be set for an important security upgrade following a new partnership between Samsung and Mastercard. The card provider company has announced regarding working with the smartphone giant to help develop and push out a new digital identity security system across mobile devices. It would finally spell an end to consumers needing to remember multiple passwords and login details, instead relying on biometric data or a single digital ID.

The EVP and head of service business office at Samsung Electronics Mobile Division, Yongje Kim said, “At Samsung, we believe consumers should be in complete control of the privacy and security of their personal identity and we’re excited to work with Mastercard to bring the first digital identity solution to Samsung smartphones”. Mastercard had formerly announced a similar partnership with Microsoft. The company said it would help facilitate speedier payment for online purchases through a similar digital ID service.

The company says its new service will feature privacy by design. It will be built around user-centric principles such as data ownership, confidentiality, consent, and transparency, but it will not collect any identity data. The president of cyber & intelligence at Mastercard, Ajay Bhalla said, “Our digital and physical lives are merging and we need a digital identity solution that reflects this reality”. He added, “Without control over how their data is used, people rely on outdated systems that can compromise their security. Our collaboration with Samsung advances a digital identity solution that is bound to a trusted device, the mobile phone which is used by millions of people every day”.

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