Wibmo, a PayU company, has introduced its new Intelligent Authentication Suite at the Global Fintech Fest (GFF) 2025, offering an alternative to traditional OTP-based authentication methods for digital payments. The suite emerges amid a broader industry shift away from OTP systems, following similar moves by Visa’s recent development of FIDO-based payment passkeys in India.
The Intelligent Authentication Suite combines three core technologies: Web Passkey for passwordless authentication, Merchant-In App for streamlined transactions within merchant applications, and Bank In-App Authentication for direct authentication through banking applications. These components address common challenges associated with OTP-based systems, including delivery failures, delays, and vulnerability to fraud. The Web Passkey feature matches emerging industry standards, similar to recent deployments by Mercuryo in the Web3 payments space.
Traditional OTP-based authentication methods have created ongoing challenges for the financial sector, resulting in lost sales opportunities for merchants, customer disputes, and significant SMS-related expenses for banking institutions. The situation has become particularly acute in India, where the National Payments Corporation of India (NPCI) is also developing biometric authentication alternatives for UPI payments.
“At Wibmo, our two decades of expertise in digital payments speaks for itself – we’ve authenticated billions of transactions and consistently set industry benchmarks for trust, security at scale, and customer experience,” said Shailesh Paul, CEO of Wibmo. “Our Intelligent Authentication Suite delivers the benefits of our leadership for leading banks and industry giants. We will enable the next frontier of innovation – pioneering the shift from traditional OTP-based methods to advanced biometric-first technology in India’s digital payments ecosystem.”
The solution arrives at a time when digital transaction volumes continue to increase in India, where recent initiatives like NPCI’s offline UPI payments and India Post Payments Bank’s facial authentication system are transforming the digital payments landscape. The suite is positioned to support this growth while providing enhanced security measures and improved transaction reliability, joining a broader ecosystem of solutions aimed at modernizing India’s payment authentication infrastructure.
Sources: Business Standard, ANI News, The Wire
