Federal Bank has partnered with fintech companies M2P Fintech and MinkasuPay to launch India’s first biometric authentication solution for e-commerce card transactions. This enables customers to authenticate purchases using fingerprint or Face ID instead of one-time passwords (OTPs).
Faster and more secure checkout
The solution reduces transaction time to 3–4 seconds while ensuring high security. It combines convenience with safety by eliminating OTPs, replacing them with device biometrics for quicker and seamless authentication.
Compliance and compatibility
The system adheres to RBI’s two-factor authentication norms and includes OTP fallback if biometrics fail. Customers can opt in with one-time consent during checkout. It works on both Android and iOS devices and can be integrated by merchants using a lightweight SDK.
Statements from partners
- Federal Bank: The bank calls this a shift in digital banking, aiming to set a benchmark for secure and frictionless transactions.
- M2P Fintech: The firm views the partnership as a milestone in secure infrastructure development.
- MinkasuPay: The company emphasizes secure two-factor authentication through device biometrics.
Current availability
The feature is live for select Federal Bank debit and credit cardholders across partner merchants and will gradually expand in phases.
