Mastercard launches Identity Check Express to simplify Indian consumers’ online shopping experience

Mastercard announced the launch of Identity Check Express, a next-generation, mobile-first authentication solution that aims to redefine the e-commerce journey for millions of Indian consumers.

The solution, will help eliminate unnecessary friction and enhance the security of online transactions. Identity Check Express was showcased at the Global Mastercard Cybersecurity Summit, held for the first time in India.

Mastercard’s analysis suggests that up to 20 percent of mobile e-commerce transactions are abandoned mid-way. Existing methods to verify an identity online can take shoppers away from a merchant’s website and are time-consuming due to issues such as consumers being redirected to a browser environment for an in-app payment or mobile network fluctuations.

Mastercard Identity Check Express combines the latest technology, including device intelligence and behavioral biometrics, with the latest EMV 3-D Secure and FIDO authentication standards to deliver an uninterrupted mobile payment experience.

With Identity Check Express, Mastercard will offer a frictionless payment experience to Mastercard cardholders at leading merchants for an amount less than ₹ 2,000 on their trusted mobile devices by sharing a onetime merchant specific consent. For transactions greater than ₹ 2,000, cardholders will be able to authenticate themselves with a transaction PIN of their choice.

Deepak Abbot, senior VP, Paytm, noted: “We are very happy that Mastercard is building a simple, easy to use mobile payment system that leverages their extensive card network in India. This will undoubtedly accelerate the Digital India mission and get many more people to transact using Paytm. Our partnership with Mastercard will benefit Indians in every corner of the country with seamless digital payments capabilities.”

Ajay Bhalla, president, Cyber and Intelligence Solutions, Mastercard, said: “With the growing spending power and aspirations of Indian consumers fueling the growth of e-commerce in the country, Mastercard’s digital by default DNA drives us to constantly innovate to enhance the convenience and security of digital payments. The launch of Identity Check Express does just that for consumers and merchants. Mastercard is ensuring that you are you - without any doubt - by strengthening and simplifying checkout to ensure higher transaction success rates while mitigating fraud.”

Mastercard is committed to supporting the strength and security of India’s digital economy. In May 2019, Mastercard announced an investment of US$1 billion over the next five years in India, in addition to its earlier investment of US$1 billion between 2014-19.

A significant part of this investment will help establish a full, on-soil domestic transactions processing center in and for India, with the remainder being directed towards building out a Services Hub in collaboration with the global teams, focused on developing and delivering other services in cybersecurity, such as authentication, tokenization, cyber and intelligence solutions, and data analytics.