Axis Bank ties up with Minkasupay for biometric-based banking payments – World Affairs SRS

Axis Bank ties up with Minkasupay for biometric-based banking payments

– World Affairs SRS

axis Bank have tied up with minkasupe To provide biometric authentication solution for Net Banking payments in Merchant App using Fingerprint or Face ID, without the need of Username, Password and One-time Password (OTP). This solution will reduce the payment time from 50-60 seconds to just 2-3 seconds and will also increase the transaction success rate.

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MinkasuPay’s biometric authentication solution, which is a 2-factor-authentication (FA) The solution (mandated by Reserve Bank of India), will help in enhancing quick and secure digital transactions through device binding and Public Key Infrastructure (PKI).

Important facts for all competitive exams:

  • Establishment of Axis Bank: 3 December 1993;
  • Axis Bank Headquarters: Mumbai;
  • MD & CEO of Axis Bank: Amitabh Choudhary;
  • Chairman of Axis Bank: Mr. Rakesh Makhija;
  • Axis Bank Tagline: Badhti Ka Naam Zindagi.

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