Mastercard tests new digital identity service - Help Net Security
Mastercard marked the first tests of a new digital service that has the potential to verify a person's identity immediately, safely and securely in both the digital and the physical world.
[...]The pilot program will test a new way for people to prove their identity without having to carry multiple documents. Instead, the model allows the data to sit with its rightful owner – the user.
It will activate a distributed model that blends information stored on an individual's mobile device and verified by additional reference points, such as an individual's bank or participating government agencies . It eliminates the need for a centralized identity database.
Mastercard's consumer-centric approach was outlined in a Principles of Digital Identity vision paper earlier this year and prioritizes privacy-by-design.
[...]Following these initial efforts, additional partnerships and pilots will be introduced across a number of markets throughout 2020.
(Score: 3, Insightful) by fyngyrz on Tuesday December 17 2019, @02:34PM (6 children)
...based on TFS, sounds to me like it identifies the individual's mobile device, not the individual.
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Government: Designed to provide you with "service" and...
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(Score: 3, Interesting) by barbara hudson on Tuesday December 17 2019, @02:54PM
SoylentNews is social media. Says so right in the slogan. Soylentnews is people, not tech.
(Score: 5, Insightful) by TheGratefulNet on Tuesday December 17 2019, @02:54PM (4 children)
mobile devices?
meaning, those things that we don't really own, certainly don't fully control, are always being attacked and have so many open vulnerabilities, not to mention that most devices do NOT get patched, ever, from the vendor, yeah, this is a super GREAT idea!
I trust my mobile so much. (yeah, right)
fuck off. still they have zero clue about security. ZERO CLUE.
"It is now safe to switch off your computer."
(Score: 5, Insightful) by All Your Lawn Are Belong To Us on Tuesday December 17 2019, @02:57PM (2 children)
They don't care about your security. They care about their loss ratio and reducing it. If by enacting this program they reduce their losses by less than the rate it costed to enact the program, they win. Not you. They.
Just like above with the fingerprint reader: They won't care if they lose 1 in every 1,000 accounts if they can show a positive net balance from enacting such a program.
TL/DR: This isn't about you. It's about the profit of the CC company.
This sig for rent.
(Score: 1, Insightful) by Anonymous Coward on Tuesday December 17 2019, @04:39PM (1 child)
Also, by placing the authenticating information on a device *you* own, the responsibility for securing that information is then yours, and, happily for them, so will the responsibility for any losses caused by any breach in the security of your mobile device....more money saved, for them.
well played, MasterCard, well played....
(Score: 0) by Anonymous Coward on Tuesday December 17 2019, @04:59PM
Fscking Antique iPad dropped part of an edit, that should have read...
'.. so will the responsibility for any losses caused by any breach in the security of your mobile device, real, or as claimed by MasterCard '
(Score: 2) by fyngyrz on Tuesday December 17 2019, @03:16PM
Yes. That's precisely what I meant. 😊
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