US Payments Forum Resource Offers Guidance for The Role of Mobile IDs in Payments
July 10 2024 - 9:00AM
The U.S. Payments Forum today unveils a new resource to educate
payment stakeholders on the increasing number of emerging,
government-issued digital identity services and how they can
potentially increase security and convenience for online and
in-person transactions between businesses and people.
“The Role of Mobile IDs in Payments,” a white paper produced by
U.S. Payments Forum members, is available for download on the
website.
Governments around the world are working to create digital
identities—electronic representations of government-issued IDs such
as passports, drivers’ licenses and identification cards—on now
ubiquitous mobile devices.
Known as “mobile IDs” or “mIDs,” digital identities offer many
benefits. First, mIDs feature strong cryptographic authentication,
making it much more difficult to counterfeit IDs. Also, they can be
machine verified, which lessens reliance on manual checks by
people. Second, mIDs have the ability to identify identity holders
remotely, an increasingly essential capability in our digitally
interconnected world. Third, the digital nature of mIDs allows much
more frequent updates. For example, when a person moves, that
change of address could be updated near real time on the mID,
increasing its security value and extending its useful life. They
can also provide individuals with more control over which identity
attributes to share and better privacy protections.
“Digital identities are a transformative technology that will
elevate government-issued credentials to a level of security and
convenience commensurate with today's interconnected world,” said
Devon Rohrer, managing director of the U.S. Payments Forum. “Our
goal with this paper is to educate stakeholders about the progress
being made with mIDs and help stimulate their widespread use in the
near term in the payments ecosystem.”
Interested parties will gain insights on:
- The current state of mIDs and mobile driver’s licenses and the
future outlook
- mID standards and guidelines for acceptance
- How mIDs can be used in today's payments ecosystem
- Data privacy considerations for payments
- The future of mID and POS integration
Organizations, associations, government agencies and individuals
interested in participating in upcoming Forum projects can visit
the Secure Technology Alliance’s website to learn how to become a
member. By joining the Secure Technology Alliance, members will
have access to activities within the U.S. Payments Forum and
additional Alliance-affiliated organizations.
About the U.S. Payments ForumThe U.S. Payments
Forum is a cross-industry body that brings stakeholders together on
neutral ground to enable efficient, timely and effective
implementation of emerging and existing payment technologies. This
is achieved through education, guidance and alternative paths to
adoption. The Forum is the only non-profit organization whose
membership includes the whole payments ecosystem, ensuring that all
stakeholders have the opportunity to coordinate, cooperate on and
have a voice in the future of the U.S. payments industry. The
organization operates within the Secure Technology Alliance, an
association that encompasses all aspects of secure digital
technologies.
About the Secure Technology AllianceThe Secure
Technology Alliance is the digital security industry’s premier
association. Through its U.S. Payments Forum, Identity and Access
Forum and its collaborative working groups, the Alliance fosters
open dialogue among industry stakeholders to explore and develop
secure technology innovations in the payments, identity and access
markets. By collaborating on education and guidance, the Alliance
helps enable efficient, timely and effective implementation of
large-scale, disruptive technologies. For more information, please
visit https://www.securetechalliance.org.
ContactMike SmithMontner Tech
PR203-226-9290msmith@montner.com