Mastercard bets on security and digital identity with $850M Ekata deal
Mastercard said on Monday it had agreed to buy digital identity verification company Ekata in a deal valued at $850 million, as the global payments processor bets on a boom in demand for companies in the digital security space.
Ekata’s products allow businesses to separate fraudsters from legitimate customers during digital interactions like opening an online account or making digital payments. It operates in three industries: ecommerce, payments, and financial services, according to its website.
“The acceleration of online transactions has thrust global digital identity verification to the forefront as one of the biggest opportunities to build digital trust and combat global fraud,” Ekata CEO Rob Eleveld said in a statement.
