The Global Data Responsibility Imperative

Data has the potential to fuel the next century of innovation, but only if our data practicesare held to the high standards we all deserve. We’re committed to managing personal data safely and securely and in ways that are ethical, compliant and of benefit to individuals.

a man is sitting on a couch, browsing on his phone

You own it

Every day you produce data. That data belongs to you.

a couple having lunch

You control it

You have the right to understand and control how your data is shared and used.

a woman sitting in front of her laptop

You should benefit from the use of it

Your data should be used to make your life easier and richer.

two women laughing

We protect it

Your data will be kept secure and used responsibly.

 

Whitepaper: The Global Data Responsibility Imperative

In today’s interconnected world, our actions impact one another more than ever. This whitepaper presents a vision of how Mastercard believes data can be managed in a responsible and secure way to drive relevant benefits for individuals and society.

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The need for data responsibility is clear:

90%

The overwhelming majority of individuals and business leaders feel data privacy is universally important (global).1

$3T

Annual economic value that could be created by 2020 by connecting data across institutional and geographic boundaries.2

26%

Only about a quarter of consumers say companies are doing a very good job handling user data vs. 58% of business leaders.1

Only ¼ of consumers firmly believe companies could deliver these principles today.1

Data Responsibility Principles

Mastercard has developed six principles that will guide our own practices as we continue our journey as responsible data stewards. We believe these principles can serve as a guide for like-minded organizations.

Security & Privacy

Companies must uphold best-in-class security and privacy practices

Transparency & Control

Companies should clearly and simply explain how they collect, use and share an individual’s data and give individuals the ability to control its use

Accountability

Companies must keep consumer interests at the center of their data practices

Integrity

Companies must be deliberate in how they use data in order to minimize biases and unintended consequences

Innovation

Companies should be constantly innovating to ensure individuals benefit from the use of their data through better experiences, products and services

Social Impact

Companies should use their information to identify needs and opportunities to make a positive impact on society

Learn more about Mastercard’s approach to privacy

1. Mastercard-commissioned survey, August 2019

2. “Data Collaboration for the Common Good,” World Economic Forum, 2019