Security News > 2021 > April > Mastercard Acquires Digital Identity Verification Firm Ekata for $850 Million
Mastercard on Monday announced that it's acquiring digital identity verification company Ekata for $850 million.
The acquisition of Seattle-based Ekata is part of Mastercard's plan to boost its identity verification capabilities.
Mastercard says the plan is to combine the technology and experience of Ekata with its own fraud prevention and digital identity programs.
"Together, Mastercard and Ekata will deliver a more comprehensive identity service that can power real-time decision-making needs, from new account openings to helping merchants assess potential fraud before a payment transaction is authorized," Mastercard said in a press release.
The acquisition of Ekata, which is expected to close in the next six months, comes roughly a year after Mastercard bought risk management company RiskRecon in an effort to enhance its cybersecurity capabilities.
In another move related to cybersecurity, shortly after announcing the acquisition of RiskRecon, Mastercard opened a new intelligence and cyber center in Vancouver, Canada.