Mastercard has initiated the trial of a new digital service in Australia that will allow customers to digitally identity without having to submit any physical documents.
For the trail, Mastercard has teamed up with Australia Post and Deakin University, where a new method of testing people’s identity will be tested.
The solution will use a distributed model, which includes information stored on an individual’s mobile device. This data will be authenticated using extra reference points, such as an individual’s bank or participating government agencies.
The successful trial of digital identity service will abolish the need for a centralised identity database, Mastercard said.
Mastercard president of cyber and intelligence Ajay Bhalla said: “Our increasingly digital life – the way we transact and interact – has challenged our traditional notions of identity, trust and privacy.
“We need a new model. We believe that this starts with a commitment to the responsible handling of personal information, giving consumers’ control over which data is used and how it is used to verify their identity.”
At the Deakin University, the students will test an identity verification process for registration as well as digital examinations at the Geelong and Burwood campuses in Victoria.
Deakin University chief digital officer William Confalonieri said: “The pilot aligns with our institution’s digital-first strategy to improve the user experience and we look forward to the concept moving into other trial environments.”
Mastercard will also integrate its service with the agency’s existing Digital iD solution to enable Australians to easily establish their identify.
After these initial tests, Mastercard will team up with more companies to carry out more piloting of the services next year.