By Michael Dabaie

 

Mastercard Inc. said it would acquire Ekata for $850 million in a deal to advance its identity verification efforts.

Identity verification services company Ekata works with a global merchants, financial institutions, travel companies, marketplaces and digital currency platforms, delivering scores, data attributes and risk indicators, Mastercard said.

"They help their customers identify good consumers and businesses and bad actors in real-time during online account opening, payments and variety of other digital interactions," the company said.

"With the addition of Ekata, we will advance our identity capabilities and create a safer, seamless way for consumers to prove who they say they are in the new digital economy," said Ajay Bhalla, president of cyber and intelligence solutions at Mastercard.

Ekata is headquartered in Seattle, with offices in Amsterdam, Singapore and Budapest.

Mastercard said it sees the deal closing within the next six months.

 

Write to Michael Dabaie at michael.dabaie@wsj.com

 

(END) Dow Jones Newswires

April 19, 2021 09:48 ET (13:48 GMT)

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