Axis Bank has tied up with MinkasuPay to offer a biometric authentication solution for net banking payments in merchant apps using Fingerprint or Face ID, without the need for usernames, passwords, and One-Time Passwords (OTPs). This Solution will reduce the time of payment from 50-60 seconds to just 2-3 seconds and also increase the transaction success rate.
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MinkasuPay’s biometric authentication solution, which is a 2-Factor-Authentication (FA) solution (mandated by the Reserve Bank of India), will help in increasing quick and secure digital transactions through device binding and Public Key Infrastructure (PKI).
Important takeaways for all competitive exams:
- Axis Bank Founded: 3 December 1993;
- Axis Bank Headquarters: Mumbai;
- Axis Bank MD & CEO: Amitabh Chaudhary;
- Axis Bank Chairperson: Shri Rakesh Makhija;
- Axis Bank Tagline: Badhti Ka Naam Zindagi.
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