Federal Bank unveils India’s 1st biometric authentication for e-com transactions
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Kochi: Federal Bank, a leading private sector bank headquartered in Aluva, has announced the launch of what it claims is India’s first-ever biometric authentication solution for e-commerce card transactions.
The innovative solution has been developed in partnership with fintech firms M2P and MinkasuPay. According to an official release, the bank’s customers can now authenticate online purchases using biometric methods such as fingerprint or Face ID, eliminating the need for traditional one-time passwords (OTPs).
The biometric system not only enhances the security of transactions but also significantly reduces processing time, bringing it down to just 3–4 seconds. Federal Bank said the solution is designed to offer a seamless and secure user experience, replacing cumbersome verification steps with a simple touch or glance.
Virat Sunil Diwanji, National Head of Consumer Banking at Federal Bank, stated that the launch marks a transformative shift in how customers interact with digital banking and perform transactions.
With PTI inputs
