Your Phone Could Make Online Payments Even Safer

We all know the hassle of forgotten passwords and the race to type in a one-time code before it expires. Well, big payment company Visa is looking to change that, trialling a new system in India called 'Payment Passkey' that could make online shopping much smoother and safer.

Instead of those fiddly codes, this new approach uses your device's built-in security features, like your fingerprint or face scan. Think about how you unlock your phone – it's quick, easy, and generally very secure. The idea is to bring that same level of convenience and protection to your online payments.

Why now? As more and more of our shopping moves online and artificial intelligence (AI) helps create smarter ways to buy things, the old ways of verifying who you are just aren't cutting it anymore. Visa believes we need something more robust, and using a 'passkey' tied to your own device offers a much stronger way to prove it's really you making a purchase.

For Australian small businesses, this could be a game-changer. Happier customers who find payments easy and secure are more likely to complete their purchases. For customers, it means less fumbling around, fewer worries about scams involving one-time codes, and generally a more relaxed way to shop online. While it's starting overseas, these kinds of innovations often make their way to Australia, promising a future of simpler, safer online transactions for everyone.