Medilytix Desk:

Axis Bank has tied up with MinkasuPay, a mobile payments company based in Silicon Valley, California, to offer a smooth net banking payment experience to its customers through biometric authentication solution.

The transaction time will reduce from the current 50-60 seconds to just 2-3 seconds with fingerprint or face ID authentication, while increasing success rates significantly, the companies said in a release on Wednesday.

“In a continuous effort to provide hassle-free digital payment solutions to its customers, Axis Bank through this partnership with MinkasuPay will enable customers to make net banking payments in merchant apps using Fingerprint or Face ID, without the need of usernames, passwords, and OTPs. This will enhance user experience, while bolstering security and reducing cyber-fraud,” it said.

MinkasuPay’s biometric authentication solution is a two-factor authentication solution that leverages the power of smartphones and biometrics to eliminate friction.

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