Mastercard has expanded its strategic partnership with Smile ID, an identity verification provider in Africa, to accelerate secure digital identity solutions across the continent. This collaboration enables banks, fintechs, mobile money operators, and enterprises to onboard customers faster, combat fraud, and promote financial inclusion, leveraging Mastercard’s global insights and Smile ID’s regional data capabilities.
Africa’s digital growth hinges on trusted identity amid fragmented systems and rising synthetic fraud costing hundreds of millions yearly. The partnership combines Mastercard’s technology for verifying digital elements with Smile ID’s local data and fraud detection, streamlining compliance and access. “This partnership with Smile ID is a pivotal step in advancing digital trust and inclusion across Africa,” said Selin Bahadirli, Executive Vice President, Services, Mastercard EEMEA. “As fragmented identity systems slow down businesses and lock millions out of the digital economy, Smile ID’s innovative identity platform complements Mastercard’s commitment to fostering secure and inclusive digital ecosystems.”
The integration delivers:
“This partnership... can help turn the tide. As we combine insights and technologies, we can expand opportunities for consumers by giving banks and mobile wallets the confidence to onboard the next 300 million African users securely, in seconds,” said Mark Straub, CEO of Smile ID.
Mastercard and Smile ID’s expanded alliance positions Africa for inclusive growth, transforming identity verification into a gateway for economic opportunity.
Mastercard (NYSE: MA), www.mastercard.com, is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and ingenuity, our payments technology provides the infrastructure and solutions that power commerce, exploration, travel and more. Everyday, we help people, businesses, governments and organizations realize their greatest potential. Our current portfolio includes the latest technology and thinking, from payments and commerce to financial services infrastructure, data and identity.
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