Mastercard has become the first private sector organization to successfully secure more than one accreditation under the Australian Government’s Trusted Digital Identity Framework (TDIF) after applying in September last year.
The TDIF is part of the Australian Government’s program to test the readiness of its Digital Identity System for expansion beyond government use. It sets the standards, rules and guidelines for digital identity providers based on international best practice and industry standards.
Under the TDIF, Mastercard’s digital identity service “ID” was determined to be trustworthy and safe under the standards of the Australian Government and was then accredited as an identity provider, credential provider and identity exchange.
The TDIF accreditation will also help the company in its partnership with other businesses by providing a seamless, secure, and convenient identity verification in Australia.
“As many parts of the world begin to return to a sense of normality, with reopening of omnichannel retail and borders, the need for more effective and streamlined identity verification has never been so important,” Mastercard’s Vice President of Cyber & Intelligence Solutions and Digital Identity Mallika Sathi said.
“Australia is leading the way when it comes to this step change, and Mastercard is excited to continue its collaboration with the public and private sector to build a national identity ecosystem where citizens have trust and confidence that their personal information is safe and secure.”
Mastercard’s ID, which offers a secure end-to-end solution for digitally creating, managing, and verifying identities, allows its consumers control of their data by allowing them to choose the personal information to disclose to others.
The company has been scaling its digital identity service in the country since 2019, partnering with organisations such as Deakin University and Optus in rolling our pilots across their channels.
“Digital identity not only has the potential to vastly improve the consumer experience, but also provide organizations with additional peace of mind when it comes to customer onboarding and relationship management,” Ms Sathi said.
“What’s more, its potential is global in scale – enabling citizens to create one identity that can be used with partners in Mastercard’s ID network, anywhere in the world. That is the end goal.”
Aside from the accreditation under the TDIF, Mastercard will continue to roll out its digital identity service in other industries across Australia, helping to reduce fraud and identity theft while improving consumer experience.