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).
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