Federal Bank has launched biometric authentication feature for e-commerce card transactions.
In collaboration with FinTech partners M2P and MinkasuPay, the new system allows customers to authenticate online purchases using fingerprint or facial recognition instead of the traditional One-Time Password (OTP).
The innovation aims to transform the user experience by reducing checkout times to as little as three seconds while delivering enhanced transaction security.
Fully compliant with the Reserve Bank of India’s Two-Factor Authentication guidelines, the biometric feature offers a seamless blend of speed, simplicity, and robust protection.
Virat Sunil Diwanji, National Head, Consumer Banking at Federal Bank, hailed the initiative as a significant step forward in user-centric innovation. “This launch is more than a tech upgrade, it’s a transformation in how our customers experience banking. With this partnership, we aim to set a new national benchmark in frictionless digital transactions,” he said.
Replacing OTPs with biometric verification not only shortens transaction times but also eliminates the hassle of managing codes or dealing with network delays.
Once customers provide a one-time consent during checkout, they can use their fingerprint or Face ID for future transactions on supported Android and iOS devices.
In the event biometrics aren’t available, users can still fall back to OTP authentication.
Madhusudanan R, Co-Founder, M2P FinTech, described the collaboration as a milestone in secure digital payments.
“We are not just innovating, we’re reimagining how trust and convenience can coexist,” he said, highlighting the scalable infrastructure M2P aims to deliver.
Anbu Gounder, CEO, MinkasuPay, added, “Our goal is to provide the most secure and intuitive payment experience globally. Partnering with Federal Bank and M2P allows us to bring this cutting-edge solution to Indian consumers.”
The new authentication method is initially available for Federal Bank debit and credit cardholders across select partner merchants and is set to expand in phases.
Merchants can integrate the technology using a lightweight SDK, making it widely accessible.
This development reinforces Federal Bank’s position at the forefront of digital banking innovation in India.
With over 1,500 banking outlets and a growing digital presence, the bank continues to blend customer convenience with advanced technology to offer next-generation financial services.
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