Collaboration paves the way for more innovative, secure onboarding experiences
Trulioo, an industry-leading identity platform with extensive global coverage for consumer and business verification, today announced a partnership with Mastercard, a global technology company to deliver innovative identity verification solutions to streamline digital onboarding for both merchants and consumers, while fighting fraud.
At the core of the global partnership is a shared commitment to improving consumer and merchant onboarding experiences, while protecting the ecosystem from a wide range of fraud threats. According to Juniper Research, cumulative merchant losses to online fraud worldwide between 2023 and 2027 are estimated to exceed $343 billion.
Trulioo will leverage Mastercard’s Identity solutions to power their Person Match and Risk Intelligence products, providing additional identity insights and risk scores through a customizable, intuitive dashboard. This will diversify the Trulioo suite beyond API-based products and further enhance their customers’ onboarding processes.
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The collaboration will also augment Mastercard’s Onboard Risk Check product with the inclusion of the Trulioo global business identity verification services. The partnership adds a layer of assurance to both companies’ merchant and consumer onboarding solutions, helping to mitigate risk, reduce fraud, and increase trust in global payments.
“The digital economy thrives when people trust it and trust each other,” said Dennis Gamiello, Mastercard executive vice president, Identity Products, and Innovation. “The ability to verify people are who they say they are instills confidence on both sides of digital interactions. Together with Trulioo, we are fueling the connections that make a vibrant digital economy possible.”
Trulioo empowers global enterprises to optimize the cost of onboarding good, verified customers while defending against fraud and maintaining regulatory compliance. Trulioo is trusted by the world’s largest financial, payments and marketplace organizations to navigate complex identity and business verification challenges.
“Trulioo is proud to partner with Mastercard and shares their dedication to industry-leading business verification and fraud prevention” said Steve Munford, Trulioo CEO. “As organizations navigate the complexities of the digital payments industry, fraud and business identity theft are constant threats. This is a pivotal milestone in our joint endeavor that will pave the way for a more secure global digital landscape.”
Mastercard securely and seamlessly connects people with merchants, banks, and businesses worldwide — enabling them to interact with confidence how, where and when they want. Powered by identity insights, machine learning and biometrics, Mastercard enables organizations, like Trulioo, to verify and authenticate more genuine consumers.
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