Eastern Bank launches Visa Payment Passkey

Eastern Bank PLC (EBL), in partnership with global digital payment service provider Visa, yesterday launched the Visa Payment Passkey (VPP) in Bangladesh at a ceremony held at the bank’s head office in Gulshan, Dhaka.

Sabbir Ahmed, country manager for Bangladesh, Nepal and Bhutan at Visa, and M Khorshed Anowar, deputy managing director and head of retail and SME banking at EBL, jointly inaugurated the VPP, according to a press release.

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The Visa Payment Passkey is a biometric authentication technology that replaces traditional passwords and one-time passwords (OTPs) for online card transactions.

The initiative marks a significant milestone in enhancing the security and convenience of online payment authentication for EBL cardholders by replacing traditional OTP-based verification with a faster, more secure, device-based authentication process.

The introduction of the Visa Payment Passkey underscores EBL’s continued commitment to delivering secure, seamless and customer-centric digital payment solutions.

Leveraging advanced authentication technology, the VPP enables cardholders to verify online transactions using biometric authentication or device credentials, reducing payment friction, improving transaction success rates, and providing a safer and more convenient digital payment experience.

Tawfique Imam, head of products at Visa Bangladesh; Ahsan Ullah Chowdhury, head of digital financial services at EBL; Tasnim Hussain, head of cards; and Faisal M Fathe-Ul Islam, head of digital payments, along with senior officials from both organisations, were also present at the launch ceremony.