This solution not only enhances security but also significantly improves transaction speed and user experience.
The solution replaces OTPs with biometric verification, reducing transaction times to just 3–4 seconds, while enhancing security. The solution is designed to combine simplicity with security, offering users a seamless experience while making online puchases via credit card or debit card.
“This is more than a tech upgrade, it’s a transformation in how our customers experience banking. Biometric authentication makes secure payments feel natural and seamless. At Federal Bank, our innovation always has a purpose i.e., to empower customers with convenience and safety,” says Virat Sunil Diwanji, National Head, Consumer Banking of Federal Bank.
Madhusudanan R, Co-founder, M2P Fintech, says, “This collaboration is a perfect reflection of what M2P stands for—building secure, scalable infrastructure that elevates user experience. Enabling the country’s first biometric authentication for e-commerce card transactions is a proud milestone for us. In partnership with Federal Bank and MinkasuPay, we are not just innovating—we’re reimagining how trust and convenience can coexist in digital payments.”
“We are proponents of device biometric authentication. Our goal is to offer the best and the most secure payment experience in the world while at the same time doing 2-factor authentication for all payment transactions. We are pleased to partner with Federal Bank and M2P in bringing this cutting-edge technology to the market, thereby offering the best payment experience in the country to the Federal Bank card customers,” said Anbu Gounder, CEO of MinkasuPay.
The biometric solution is compliant with RBI’s Two-Factor Authentication (TFA) guidelines and ensures fallback to OTP in case biometrics are not captured. Customers can enroll with a one-time consent during checkout and use the feature seamlessly on supported merchant apps. It works across compatible Android and iOS smartphones and can be integrated by merchants via a lightweight SDK.
How will it help the customers?
The bank, in a statement, that the customers will get following benefits:
1. There will be no more OTPs while using your credit card. One only needs to just usefingerprint or Face ID
2. Then there will be faster checkouts — as quick as three seconds
3. Each transaction is uniquely validated by your device, thus providing top tier security.
4. The control continues to remain with the customers: They can easily opt in or out, with fallback to traditional methods if needed
This innovation is currently live for Federal Bank debit and credit cardholders, across select partner merchants, and will be expanded in a phased manner, says the statement.
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