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Mastercard, Samsung partner to develop secure digital identity beyond passwords

Mastercard has entered an agreement with mobile phone giant Samsung to explore ways to secure digital identity that do not rely heavily on passwords and personal information.

"Our digital and physical lives are merging and we need a digital identity solution that reflects this reality," Ajay Bhalla, Mastercard president of cyber and intelligence, said in a press release. "Without control over how their data is used, people rely on outdated systems that can compromise their security."

The company said that consumers soon will be able to use a digital identity method for their devices that works for both the physical and digital interactions. This method would be used for everything from accessing email to opening a bank account, shopping online or watching streaming video.

"At Samsung, we believe consumers should be in complete control of the privacy and security of their personal identity and we're excited to work with Mastercard to bring the first digital identity solution to Samsung smartphones," said Yongje Kim, executive vice president and head of service business office at Samsung Electronics mobile division.