Seeking to bolster its digital identity capabilities, Mastercard this week announced it has acquired identity verification technology provider Ekata for $850 million. The deal is the most recent in a string of acquisitions in the digital risk and identity verification industries made by the payment network over the past several years that also includes Brighterion, Ethoca and NuData Security.
Ekata uses a variety of sources and data to verify the identity of customers making purchases on websites and apps, enabling merchants to identify and prevent fraud through those channels. The Purchase, N.Y.-based company said adding Ekata’s capabilities, technologies and experience will deliver peace of mind to merchants engaged in digital commerce.
"The shift to a more digital world requires real solutions to secure every transaction and instill trust in every interaction," said Ajay Bhalla, president of cyber and intelligence solutions at Mastercard. "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."