PhonePe introduces biometric authentication for UPI payments: How it works
What's the story
Leading fintech platform, PhonePe, has added biometric authentication into its Unified Payments Interface (UPI) payment system. The new feature will let users approve transactions using their smartphone's fingerprint scanner or facial recognition technology. This way, you won't have to enter your PIN for smaller transactions anymore. The feature is only available on Android devices at the moment, but an iOS version is also in the works.
Security upgrade
Device-level 2-factor security measure
According to PhonePe, the biometric authentication feature works as a device-level two-factor security measure for eligible transactions. It can be used for everyday payment scenarios like peer-to-peer transfers, QR code-based merchant payments, online transactions, and bank balance checks. The company also said that if biometric verification fails due to poor lighting or sensor limitations, users can easily switch back to PIN-based authentication.
User experience
Aimed at simplifying payment process
Deep Agrawal, Head of Payments at PhonePe, said the new addition is aimed at simplifying the payment process without compromising on security. The company hopes that this feature will not only save time but also reduce transaction failures due to wrong or forgotten PIN entries. To enable the biometric payment feature, you have to open the PhonePe app, go to your profile, tap on manage payments, and select biometric pay.