Visa Introduces Passkey Authentication in Bangladesh, Replacing OTPs with Biometrics
Visa has introduced its Payment Passkey authentication system in Bangladesh, marking a major milestone in the country’s digital payment evolution. The new technology replaces traditional SMS one‑time passwords (OTPs) with biometric and device‑based authentication, allowing users to verify online transactions through fingerprints, facial recognition, PINs, or unlock patterns.The launch, in collaboration with Eastern Bank PLC (EBL) and BRAC Bank, positions Bangladesh among the early adopters of Visa’s global FIDO‑based security framework. This initiative aims to strengthen protection against phishing and fraud while improving the speed and reliability of online payments.
For years, OTPs have been the standard for verifying digital transactions. However, as phishing and social engineering attacks have grown more sophisticated, the limitations of OTPs have become clear. Visa’s passkey system offers a modern alternative that is faster, safer, and more intuitive. Instead of waiting for an SMS code, users can now authenticate payments using the same method they use to unlock their smartphones.Industry experts believe this shift will significantly enhance consumer confidence in e‑commerce. With smoother checkout experiences and fewer failed transactions, merchants can expect higher conversion rates and improved customer satisfaction. Moreover, fintech partners are preparing to expand passkey integration across major online platforms, ensuring broader accessibility for Bangladeshi users.The introduction of Visa Payment Passkey also aligns with the global movement toward password‑less authentication. As digital commerce continues to grow, biometric identity is emerging as the future of secure payments. Bangladesh’s adoption of this technology reflects its readiness to embrace innovation and strengthen its position in the regional fintech landscape.
In essence, Visa’s new passkey authentication is not just a technical upgrade—it represents a step toward a smarter, safer, and more seamless digital economy in Bangladesh.
Tags: Digital Payments, Bangladesh, Biometric Security, E‑commerce, Fintech, Online Transactions, FIDO Standards, BRAC Bank, Eastern Bank PLC