Thursday, May 19, 2022
News

Axis Bank partners MinkasuPay for a seamless net banking experience for its customers

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

Business | January 12, 2022 10:49:58 AM IST
Mumbai (Maharashtra) [India], January 11 (ANI/PNN): Axis Bank, India's third-largest private sector bank, today announced its partnership with MinkasuPay to offer the smoothest net banking payment experience for its customers through a biometric authentication solution.

Transaction time will reduce from the current 50-60 seconds to just 2-3 seconds with Fingerprint or Face ID authentication while increasing success rates significantly.

In a continuous effort to provide hassle-free digital payment solutions to its customers, Axis Bank, through this partnership with MinkasuPay, will enable customers to make net banking payments in merchant apps using Fingerprint or Face ID, without the need of usernames, passwords, and OTPs. This will enhance user experience while bolstering security and reducing cyber-fraud.

MinkasuPay's biometric authentication solution is a 2-Factor-Authentication solution that leverages the power of smartphones and biometrics to eliminate friction. 2FA, as mandated by RBI, helps increase the security of all digital transactions. For the first transaction, customers have to log in to their net banking account using their username & password, verifying the OTP, as usual, to get on-boarded. For all subsequent transactions, a Fingerprint or Face ID can be used to approve payments.

Speaking on the initiative, Sanjeev Moghe, EVP & Head, Cards and Payments, Axis Bank, said, "We are excited to offer this best-in-class experience on our net banking platform. With the growing adoption & usage of digital payments, our partnership with MinkasuPay will play an important role in enhancing customers' net banking experience. It will improve transaction success rates and further strengthen safety and security of digital transactions."

Commenting on the partnership, Anbu Gounder, CEO, MinkasuPay, said, "We are pleased to partner Axis Bank to bring the best payment experience in India to their customers. MinkasuPay is the pioneer of 1-click payments in India and offers biometric authentication solutions for Netbanking, Debit card, Credit card and UPI payments. MinkasuPay's patented security technologies make online transactions much safer. Instead of trying to optimize existing OTP-based flows or compromise on security for low-ticket items, we have built a truly innovative digital payments authentication platform from the ground up that leverages device binding and Public Key Infrastructure (PKI) to enable quick and secure payments."

To view the customer journey, please click here.

This story is provided by PNN. ANI will not be responsible in any way for the content of this article. (ANI/PNN)

 
  LATEST COMMENTS ()
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
 
MORE BUSINESS NEWS
Tanla platforms appoints TRAI veteran Su...
Odisha Govt extends 'Mission Shakti' sch...
Mtalkz to host an event on 'The Art of L...
Ulaganayagan Kamal Haasan reveals the Vi...
CAMPCO sweetens business performance wit...
HarperCollins presents STARTUP COMPASS: ...
More...
 
INDIA WORLD ASIA
Delhi Shocker: 13-yr-old raped by 8 peop...
Ex-SI of RPF gets 3-yr RI for bribe...
Little overnight rainfall brings relief ...
Man-made highlands to save animals durin...
Panic over essential items as key NE rai...
Bihar cop found drinking inside police s...
More...    
 
 Top Stories
President Kovind, Prime Minister Ra... 
8th edition of SHRM India HR Tech c... 
Jr NTR announces his next project o... 
Israel doctors go on strike over vi... 
OYO announces a free stay after 5 n... 
India's Ambassador meets Comoros's ... 
KTR holds series of meetings with t... 
KTR meets GSK Consumer Health head,...