New Payment Method Using Biometrics
- CRED has launched a new feature in its mobile application. The new feature enables users to make payments by using biometric authentication. Users can complete transactions of up to ₹5,000 through facial recognition or fingerprint verification.
- The feature was developed in partnership with the National Payments Corporation of India (NPCI). CRED confirmed that the feature is available for both Android and iOS users.
Supported Payment Activities
Users can apply biometric authentication across multiple payment types. These include:
- Credit card bill payments
- Utility bill payments
- Merchant transactions
- Peer-to-peer money transfers
The feature provides users with an easier payment method that does not require them to enter their PIN codes through manual input.
Focus on Security and Convenience
CRED designed this feature to improve payment security. Biometric data protects against unauthorized access to PIN numbers. The system prevents users from experiencing two common problems which are:
- Forgetting PIN numbers
- Entering incorrect PINs
- Delays in transaction approval
Biometric verification ensures faster and more secure transactions.
Similar Feature in BHIM App
The BHIM app developed by NPCI has introduced a new biometric payment feature which functions similarly to existing systems. This shows that India is developing digital payment systems which provide both security and ease of use to their users.
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