Security News > 2021 > April > Mastercard acquires Ekata for $850M to advance its identity verification efforts

Mastercard took steps to advance its identity verification efforts with the acquisition of Ekata for $850 million.

"With the addition of Ekata, we will advance our identity capabilities and create a safer, seamless way for consumers to prove who they say they are in the new digital economy."

Ekata's identity verification data, machine learning technology and global experience combined with Mastercard's fraud prevention and digital identity programs will help businesses confidently know who their customers are and, in turn, help those customers safely interact online.

"The acceleration of online transactions has thrust global digital identity verification to the forefront as one of the biggest opportunities to build digital trust and combat global fraud," said Rob Eleveld, CEO at Ekata, Inc. "The right identity verification solutions enable inclusive and frictionless experiences while, at the same time, ensuring customer privacy, control and security. Becoming part of the Mastercard Identity family ensures a broader, collective approach to meeting the growing demands of the digital economy."

Strong identity technology - Ekata has built a core set of identity verification services that helps to provide the backbone of the safety and security of everyday commerce.

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.

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