Home / News

Business

  • 0

Axis Bank partners MinkasuPay for a seamless netbanking experience for its customers

Mumbai: 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 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 netbanking 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 netbanking account using their username & password, verifying the OTP as usual to get on-boarded. For all subsequent transactions, 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 netbanking platform. With 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 ground up, that leverages device binding and Public Key Infrastructure (PKI) to enable quick and secure payments.” 

 

Previous News

Technology News

MeetSurface Pro8– the most powerful 2-in-1 Surface built for Windows 11

Microsoft today announced that the new Surface Pro 8 will be available in the country from Februa

Hero Electric and Mahindra & Mahindra Announce Strategic Partnership in Electric Mobility

New Delhi and Mumbai: Hero Electric, India’s No.1 EV company and the Mahin

CMR Study reveals Indian consumers continue to prioritize audio quality while purchasing smartphones

Chennai: Over the past year, audio has been increasingly integrated into co

Acer Debuts New Large-Screen Chromebooks for Work, School and Entertainment

New Delhi: Acer today debuted four new Chromebooks that meet a range of cus

Latest Business News

MediaTek Announces Kompanio 1380 for Premium Chromebooks

HSINCHU, Taiwan: MediaTek today announced its new Kompanio™ 1380 chip, which offers a new level of performance and best-in-c

Indus Health Pus data reveals that males are at a higher or an equal risk of developing thyroid conditions as females

Chennai:Indus Health Plus – a pioneer in preventive healthcare has observed thyroid trends based on the hea

Final few luxury penthouse apartments for sale at Anantara The Palm Dubai Residences

UAE-headquartered upscale residential, hospitality and commercial property developer Seven Tides has announced only a few luxurious penthouse apart