Wibmo, a PayU company, has announced the launch of its Intelligent Authentication Suite, aiming to optimise digital payment authentication for banks and merchants.
The stack merges three technologies, namely Web Passkey, Merchant In-App, and Bank In-App Authentication, which is set to support more efficient and safer digital payments for both the Indian market and the world as a whole.
Switching from OTP methods to biometric technology
Falling in line with the Reserve Bank of India (RBI) guidelines on risk-based authentication beyond the current two-factor standard, Wibmo’s Intelligent Authentication Suite provides an alternative to OTPs through secure biometric authentication. This is set to equip financial institutions and merchants with a solution that facilitates increased security and speed, as well as an optimal user experience. The newly unveiled suite includes the following integrated solutions:
Wibmo Passkey in partnership with Mastercard
Wibmo has started working with Mastercard to launch a Passkey authentication solution, developed for phishing-proof, biometric-based authentication leveraging fingerprint, Face ID, or PIN. The solution merges Mastercard’s global network security with Wibmo’s knowledge in authentication, supporting transactions in under 12 seconds and ensuring scaled protection against phishing and credential threats.
Flash Pay – Merchant In-App Authentication
Flash Pay comes as a plug-and-play solution that offers biometric-first authentication at checkout, allowing secure payments through face or fingerprint recognition. In this process, OTP methods are implemented as a fallback for enabling simplified completion. The service delivers improved control over customer authentication for banks, allowing verification of the user within the merchant-app itself. When it comes to merchants, the tool focuses on increasing customer satisfaction and boosting repeat business behaviour.
Furthermore, at the foundation of Wibmo’s Intelligent Authentication Suite lie two other solutions, including the Smart Orchestration engine and Bank In-App authentication through SDK and API. Smart Orchestration chooses the best authentication method based on Access Control Services (ACS) capabilities, merchants' requirements, risk assessment, and user behaviour for security, higher approval rates, and improved customer experience. On the other hand, the Bank In-App authentication service offers simplified online card payments by enabling customers to authenticate themselves on their bank’s application.
