EBL and Visa Launch Passkey Authentication for Online Payments
Eastern Bank PLC (EBL) and Visa have introduced passkey authentication for online payments in Bangladesh.
July 20, 2026
1 min read
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Source: tbsnews.net
Eastern Bank PLC (EBL) and Visa have announced the launch of passkey authentication for online payments, aiming to enhance security and reduce fraud. The new feature allows customers to authenticate transactions using biometrics or device-based credentials instead of traditional passwords or OTPs.
Passkey authentication replaces vulnerable passwords with cryptographic keys stored on the user's device, making it resistant to phishing and credential theft. The service is initially available for EBL cardholders making online transactions through Visa's network.
This initiative aligns with global trends toward passwordless authentication, as financial institutions seek to improve user experience while combating rising cyber threats. EBL is among the first banks in Bangladesh to implement this technology for card payments.
β Frequently Asked Questions
What is passkey authentication?
Passkey authentication uses cryptographic keys stored on a user's device, verified via biometrics or PIN, to replace passwords for secure logins and transactions.
How does passkey authentication improve security for online payments?
It eliminates password-based vulnerabilities like phishing and credential theft by using device-bound keys that cannot be easily intercepted or reused.
Which banks in Bangladesh have implemented passkey authentication with Visa?
Eastern Bank PLC (EBL) is among the first banks in Bangladesh to launch passkey authentication for Visa card payments.
