Seamless and Secure: The rise of payment passkeys
summary
Visa is rolling a payment passkey service that acts as the relying party, hosts a FIDO/WebAuthn credential store and exposes three net‑new calls: device compatibility check, enroll and authenticate. Biometric passkey authentication shows ~55% fraud reduction versus passwords and yields an ECI 5 and CAVV/TAVV back to issuers so transactions get liability shift and interchange benefits. Enrollment is one‑time, binds card PAN + device + browser, supports EMV 3DS and token rails, and is already demoed via screenshots and managed portal.
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chapters (8)
- 0:00Introduction to payment passkeys
- 1:08Rising fraud and acceptance gap
- 2:54Visa Payment Passkey solution
- 5:43Benefits for merchants and issuers
- 7:08How passkeys work in practice
- 10:38Passkey enrollment process
- 12:48User experience demonstration
- 16:19Q&A session
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