{"id":26215,"date":"2024-08-31T07:51:04","date_gmt":"2024-08-31T02:21:04","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=26215"},"modified":"2025-04-08T00:30:33","modified_gmt":"2025-04-07T19:00:33","slug":"payment-passkey-service","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/payment-passkey-service\/","title":{"rendered":"What is Payment Passkey Service?"},"content":{"rendered":"<h2><strong>About Payment Passkey Service:<\/strong><\/h2>\n<ul>\n<li>It uses <strong>device-based biometric authentication<\/strong> methods such as fingerprints or facial scans.<\/li>\n<li>It will provide customers with <strong>a non-OTP-based solution<\/strong> for transaction management.<\/li>\n<li><strong>Working<\/strong>\n<ul>\n<li>Passkeys <strong>work using algorithms<\/strong> to encrypt data so users can verify their identity fast and securely.<\/li>\n<li>When users first sign into an account, their device creates a pair of keys: one that is public and shared with the <strong>website to validate the passkey<\/strong>, and one that is private on your device to unlock the passkey to access your account.<\/li>\n<li>And it <strong>can work across devices<\/strong> from the same operating system: If you set up a passkey for an app or website on your phone, it can work if you log in from your laptop or tablet.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Advantage:<\/strong> By replacing traditional passwords and OTPs, the Mastercard Payment Passkey Service makes transactions not only faster, but also more <strong>secure against fraud and scams.<\/strong><\/li>\n<li>Passkeys can be used for payments. Payment passkeys offer a more secure and easier way for cardholders to authenticate themselves during <strong>e-commerce transactions<\/strong> on web or merchant apps.<\/li>\n<\/ul>\n<hr \/>\n<h3>Q1: What is Tokenization?<\/h3>\n<p>It refers to replacement of actual credit and debit card details with an alternate code called the \u201ctoken\u201d.It is a combination of card, token requestor and device.<\/p>\n<p><strong>Source: <\/strong><a href=\"https:\/\/www.thehindubusinessline.com\/money-and-banking\/mastercard-chooses-india-for-world-debut-of-payment-passkey-service\/article68582167.ece\" target=\"_blank\" rel=\"nofollow noopener\">Mastercard chooses India for world debut of Payment Passkey Service<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Payment Passkey Service uses device-based biometric authentication methods such as fingerprints or facial scans.<\/p>\n","protected":false},"author":5,"featured_media":26216,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-26215","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/26215","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=26215"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/26215\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/26216"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=26215"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=26215"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=26215"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}