Global payments infrastructure provider Mercuryo introduced Passkey as part of its authentication process for fiat-to-crypto transactions, aiming to enhance security and streamline the user experience. With Passkey enabled, users can authenticate using biometric methods—such as fingerprint or facial recognition—eliminating the need to enter one-time passcodes typically sent via SMS or email.
The system relies on advanced encryption protocols and is recognized for its ability to deliver efficient and secure access. Passkey is compatible with iPhone, Android, and Windows devices, and is set to be implemented across Mercuryo’s network of over 200 partners, which includes various prominent non-custodial wallet services.
“We are delighted to have integrated Passkey, a feature that provides an optimal and intuitive login process while also greatly enhancing the protection of users’ data,” said Petr Kozyakov, Co-Founder and CEO of Mercuryo, in a written statement. “The introduction of Passkey demonstrates our commitment to continuously evolving our service to deliver an exceptional user experience that will help further mainstream adoption of Web3 payments,” he added.
Passkey Biometric Authentication To Enhance User Experience And Security In Web3 Payments
“The addition of Passkey to the Mercuryo platform will further enhance the user experience for those buying and selling digital tokens in Trust Wallet,” said Tatiana Kurach, Business Development at Trust Wallet, in a written statement. “We are confident that there will be a ready uptake of this biometric security layer among our user base. Passkey provides an optimal and robust means of enabling users to obtain access to their accounts and make transactions,” she added.
Passkey offers protection against common cyber threats and adds an extra layer of security to defend against advanced risks posed by emerging technologies like AI. By safeguarding against malware and phishing attacks, Passkey addresses the weaknesses often found in authentication methods that rely on email or text messages.
Developed by the FIDO Alliance, Passkey functions by registering a credential on a user’s personal device only once. The device then verifies ownership of this credential to the remote server using the user’s screen lock.
A considerable barrier to widespread adoption of Web3 has been the difficulty in providing user-friendly payment solutions. Passkey addresses this challenge by delivering a simplified and encrypted approach to user identity verification, reducing complexity and improving accessibility.
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