Visa and ISG Enable Passwordless Digital Payments with Visa Payment Passkey
Visa Payment Passkey has been launched by In-Solutions Global (ISG) and Visa to enable passwordless digital payments. The service allows cardholders to authenticate online and in-app transactions using device biometrics or a device PIN, eliminating the need for one-time passwords (OTPs).
This innovation is part of an industry-wide shift towards passkey authentication, which is based on FIDO Alliance and W3C WebAuthn standards. ISG and Visa aim to reduce fraud and cart abandonment while enhancing security and customer experience.
ISG's Managing Director, Mrs. Adelia Castelino, said that the Visa Payment Passkey gives control of payments back to cardholders with additional benefits such as higher success ratios and stronger security. Rishi Chhabra, Country Manager for India at Visa, stated that they are proud to partner with ISG to enable Visa Payment Passkey for leading issuers in India.
The participating banks include Union Bank of India, Central Bank of India, Bank of Maharashtra, Indian Overseas Bank, and Indian Bank. ISG has embedded passkey support directly into the checkout journey, allowing issuing banks to modernize authentication without rebuilding their existing infrastructure.