Visa Launches Payment Passkey in India
Analysis based on 8 articles · First reported Jul 02, 2026 · Last updated Jul 02, 2026
The launch of Visa Inc.'s Payment Passkey in India is expected to positively impact the financial services and technology sectors by enhancing digital payment security and user experience. This innovation, supported by the State Bank of India's framework, could lead to increased adoption of digital payments and reduced fraud, benefiting consumers and participating merchants like Walmart — Myntra and Paytm.
Visa Inc. has launched its 'Payment Passkey' solution in India, aiming to revolutionize digital payment authentication by moving beyond traditional passwords and one-time passwords (OTPs). This new solution, built on FIDO standards, enables consumers to authenticate online card payments using biometric capabilities like fingerprint and facial recognition, or device PINs, already present in their mobile devices. Suresh P. Sethi, Group Country Manager for India and South Asia at Visa Inc., emphasized that this initiative will strengthen trust in India's digital payments ecosystem, which is already the world's most tokenized market for online card payments. The State Bank of India's regulatory framework has facilitated this shift by allowing alternative authentication mechanisms. The Payment Passkey is initially available with IDFC First Bank and on platforms such as Walmart — Myntra, Paytm, and MakeMyTrip, with fintech partners like Juspay and Razorpay supporting its wider adoption. This move is crucial for combating phishing fraud and preparing the market for AI-driven commerce, ultimately making online transactions more secure, seamless, and efficient.
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