Razorpay Revolutionizes Digital Payments with Biometric Authentication

In a pioneering development to enhance digital payment security and efficiency, Razorpay has introduced biometric authentication, effectively removing the necessity for one-time passwords (OTPs) in card-based transactions. According to Harshil Mathur, CEO of Razorpay Software Limited, this innovation has been rolled out in collaboration with Yes Bank.

Speaking to ANI at the Global Fintech Fest 2025, Mathur outlined the motivation for this advancement, highlighting issues with OTPs, such as delayed delivery and network dependency, which lead to a 5-10% transaction failure rate. To address these challenges, Razorpay unveiled a more seamless and secure solution, where payments can be authorised using Face ID or fingerprint sensors instead of OTPs.

The introduction of this method aims to deliver dual benefits: heightened security and increased transaction success rates. Mathur emphasized that this innovation marks a significant advancement in the evolution of digital payments in India, positioning the nation at the forefront of global payment authorization techniques. The move underscores the fintech industry's focus on user convenience, security, and progressive payment solutions.

(With inputs from agencies.)