Axis bank partners MinkasuPay for smoother banking payments
January 12, 2022
Axis Bank has collaborated with MinkasuPay to offer biometric authentication solution for its clients, by which the transaction time to execute net banking payment will be reduced from around 50-60 seconds as of now, to only 2-3 seconds.
India’s third biggest private sector bank said clients’ biometric authentication will be finished with Fingerprint or Face ID validation. This will also increase transaction success rates significantly.
Hub Bank, through this organization with MinkasuPay, will enable clients to make net financial payments in dealer applications using Fingerprint or Face ID, without the need of usernames, passwords, and OTPs.
This will assist with improving client experience, while likewise reinforcing security and reducing cyber fraud, Axis Bank and MinkasuPay said in a joint statement.
“MinkasuPay’s biometric Authentication solution is a 2-Factor-Authentication solution that leverages the power of phones and biometrics to eliminate friction.
“2FA, as commanded by the RBI, helps increment the security of every digital transaction,” the statement said.