Mastercard Identity Check Program makes India debut with Federal Bank

To create a more convenient and safer payments ecosystem, Mastercard announced a partnership with Federal Bank to offer Identity Check to the banks’ cardholders. Mastercard Identity Check is a global authentication program that uses the most up-to-date authentication standards of EMV 3-D Secure to provide an additional layer of security for digital transactions and facilitate higher approval rates, improving the authentication experience for merchants, issuers and cardholders.

Mastercard Identity Check provides banks with a secure and user-friendly way to authenticate cardholders without the use of static passwords, increasing approval rates. The enhanced technology and insights ensure consumers can shop where they want with ease, be it in-app, on a browser or through an IoT-enabled device. It also decreases online shopping cart abandonment, reduces fraud and improves conversion rates for e-commerce merchants. Implementation in other regions has shown an increase in digital transaction approvals of nearly 13 percent.

Shalini Warrier, Chief Operating Officer, Federal Bank, said, “We are proud to be the first issuing partner in India to launch the Identity Check program for our cardholders and provide them with superior safety of Mastercard’s global network. We believe that this new solution will provide a seamless experience and will find instant affinity among our Mastercard cardholders.”

“Today, consumers want a complete payment experience when it comes to making large and small purchases. The launch of Identity Check program by Federal Bank and Mastercard will go a long way in providing ease of payments with advanced security to shoppers, said Govind Setlur, CEO, Wibmo, payment solutions partner for Federal Bank.