Mastercard has acquired Ekata Inc., an Atlanta-headquartered provider of identity verification products, for $850 million.
According to the companies, Ekata”™s technology will be merged into Mastercard”™s cyber and intelligence business to strengthen the Purchase-based company”™s identity verification capacities for making real-time decisions, ranging from new account openings to helping merchants assess potential fraud before a payment transaction is authorized.
“We have an opportunity to ensure that the digital way to prove you are who you say you are and establishing that trust is as easy as it is with paper credentials today,” said Ajay Bhalla, president of cyber and intelligence solutions at Mastercard. “With the addition of Ekata, we will advance our digital identity strategy as part of a broader effort to power the digital economy.”
