Razorpay has launched a biometric authentication solution called Passkey, RBI-compliant and built in partnership with Mastercard and soon Visa. The solution uses device-bound secure biometrics enabling cardholders to verify online transactions through fingerprint or facial recognition instead of OTPs. This addresses a key pain point: 35% of payment failures in India stem from authentication issues, while digital payment fraud caused losses exceeding Rs 520 crore in FY25. https://entrackr.com/snippets/razorpay-introduces-rbi-compliant-biometric-authentication-solution-passkey-11438762 #India #Tech #Fintech #Razorpay