Visa has launched Visa Payment Passkey in Bangladesh, introducing a new authentication technology designed to make online payments faster, safer and more seamless.
According to a press release issued on Saturday (July 4), the service has been introduced in partnership with Eastern Bank PLC (EBL) and BRAC Bank. The solution enables customers to authenticate online transactions without relying on traditional one-time passwords (OTPs).
Instead, users can approve transactions using fingerprint authentication, Face ID or a device PIN stored on their smartphones or other compatible devices. Built on the Fast Identity Online (FIDO) standard, the technology is designed to enhance both security and user convenience during online payments.
Sabbir Ahmed, Visa's Country Manager for Bangladesh, Nepal and Bhutan, said Bangladesh's e-commerce and digital payments ecosystem is expanding rapidly, but authentication remains one of the most time-consuming steps in the payment process.
"Visa Payment Passkey simplifies that experience by allowing customers to complete transactions quickly and securely. It will also reduce payment abandonment and improve transaction success rates," he said.
According to Visa, the passkey solution requires fewer authentication steps than conventional OTP-based verification, reducing friction and lowering the risk of interrupted transactions.
Once registered, customers can use the same authentication method across participating merchants and digital platforms. The technology is compatible with major operating systems and web browsers and can be used on billions of FIDO-enabled devices worldwide.
Visa said it remains committed to introducing secure, user-friendly payment innovations in line with Bangladesh's growing digital economy. Through collaboration with financial institutions and ecosystem partners, the company aims to strengthen the country's digital payments infrastructure and promote a more inclusive cashless economy.
//DBTech/RI/MI//
