Visa rolls out OTP-less payment method for partner customer
Global payment technology company Visa has launched its Payment Passkey (VPP), an OTP-less authentication method for credit card transactions, allowing users to verify payments using biometric or device-based methods. This solution, which aligns with RBI proposals, is live for IDFC First credit card users and select customers of major partners like Myntra, Paytm, and MakeMyTrip, with support from various fintech firms.
Why it matters
This innovation aims to enhance payment security and convenience by eliminating the need for OTPs, potentially streamlining online transactions and reducing friction for consumers while aligning with regulatory pushes for alternative authentication methods.
Global payment technology company Visa rolled out the Visa Payment Passkey (VPP), an OTP-less authenticated payment facility for credit card holders of partner firms here on Thursday.
Straightforward reporting of a company's product rollout without overt editorializing.
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