Launch Overview

Visa and In‑Solutions Global (ISG) announced the launch of Visa Payment Passkey at the Global Fintech Fest (GFF) 2026, held on 18 September 2026 at the Jio World Convention Centre in Mumbai. The solution enables cardholders to authenticate online and in‑app card‑not‑present transactions using device biometrics or a device PIN, eliminating the need for one‑time passwords (OTPs).

Technical and Security Features

The Passkey leverages the FIDO Alliance and W3C WebAuthn standards, providing phishing‑resistant, passwordless authentication. It replaces SMS‑based OTPs with a faster, built‑in checkout flow that uses biometric or PIN verification, which Visa states will improve authentication success ratios and reduce fraud and cart abandonment. The approach aligns with card‑network and regulatory directions on strong customer authentication.

Quotes from Leadership

  • Mrs. Adelia Castelino, Co‑Founder & Managing Director of ISG, said, “Visa Payment Passkey gives control of the payment back in the cardholder's hands with additional benefits of higher success ratios and stronger security… It’s the first step into agentic AI in payments, enabling a truly seamless digital payments journey.”
  • Rishi Chhabra, Country Manager, India, Visa, added, “Visa is proud to partner with ISG to enable Visa Payment Passkey for leading issuers in India, advancing a more secure, seamless and trusted digital payments experience… This collaboration reflects our shared commitment to embedding trust at the core of every transaction.”

Industry Context

The launch reflects a broader industry shift away from OTPs toward passkey authentication, a standard already adopted across major platforms. Networks and regulators are pushing for stronger, more usable authentication in digital commerce. For a payments technology provider operating switches, gateways, issuing and acquiring platforms under standards such as PCI DSS and ISO 27001, embedding passkey support directly into the checkout journey allows issuing banks to modernise authentication without rebuilding existing infrastructure.

ISG Platform Integration

ISG’s existing capabilities—including tokenisation, authentication tooling, and its issuing and acquiring platforms—have been extended to support FIDO‑based passkey standards. The company is authorised by the Reserve Bank of India (RBI) as a Payment Aggregator for online, physical/offline and cross‑border payments and holds a Prepaid Payment Instrument (PPI) authorisation. ISG is certified to PCI DSS, PCI SSF, ISO 27001 and ISO 27701, and is recognised as a Technology Service Provider for RuPay, Visa and Mastercard.

Participating Issuers and Rollout

The initial participating issuers announced are Union Bank of India, Central Bank of India, Bank of Maharashtra, Indian Overseas Bank, and Indian Bank. ISG and Visa indicated that further details on rollout timelines and additional participating issuers will be shared in due course.

Geographic Reach

ISG, founded in 2004 and headquartered in Mumbai, serves banks and financial institutions across India, the Middle East, Africa, Australia, APAC and Europe. Through its presence in GIFT City, Gujarat, and its IFSCA licence, ISG is building capabilities to serve international and cross‑border payment requirements.

Regulatory and Compliance Context

The solution complies with RBI’s regulatory framework for payment aggregators and aligns with global security standards (PCI DSS, ISO 27001). It also meets the card‑network’s strong customer authentication guidelines, positioning it as a compliant, future‑ready authentication method for the Indian payments ecosystem.