MinkasuPay is a mobile payment solution that utilizes biometric authentication, allowing users to make secure payments directly from their debit or credit cards and net banking accounts without the need for usernames, passwords, or OTPs after the initial setup. This technology eliminates the reliance on prepaid wallets and reduces friction in the payment process, enhancing user convenience and security.
Funding
Funding not disclosed
Founders
Product
Problem
E-commerce merchants face cart abandonment due to cumbersome checkout processes that require users to manually enter card details, billing addresses, and OTPs for every transaction. This friction leads to lost sales and reduced customer lifetime value.
Solution
MinkasuPay offers a mobile payment solution that streamlines the checkout experience by leveraging biometric authentication. After a one-time setup, users can make secure payments directly from their existing debit cards, credit cards, and net banking accounts using fingerprint or PIN verification, eliminating the need to repeatedly enter usernames, passwords, and OTPs. This approach removes friction, reduces reliance on prepaid wallets, and enhances security through public key cryptography and identity verification.
Target Audience
The primary target audience includes e-commerce merchants seeking to reduce cart abandonment and improve customer conversion rates, as well as consumers who desire a faster and more secure online payment experience.
Features
- Biometric authentication (fingerprint or PIN) for secure and fast payments
- Direct integration with existing debit cards, credit cards, and net banking accounts
- One-time setup process to eliminate repeated entry of card details and OTPs
- Mobile SDK for easy integration into merchant apps
- Patent-pending technology employing public key cryptography and identity verification