Which Payment Providers offer Passkeys?

Passkeys in payment transform how users access financial accounts and authorize transactions securely without passwords (sometimes they also replace the current existing second factor). In the USA, Australia, Europe, and Asia, the first payment providers are embracing passkeys to reduce fraud and enhance security. This article covers which payment providers support passkeys and why passkeys are the future of online payment authentication.

Passkeys are a secure, passwordless authentication method based on FIDO2 and WebAuthn standards. They provide a faster and safer way for users to access their payment accounts by replacing passwords with biometric authentication or a device-based credential. Some payment providers and financial technology companies that have fully implemented passkeys include PayPal, Revolut, SumUp and Finom. Others are in various stages of development or offering limited availability. These institutions are leveraging passkeys to enhance security, reduce fraud, and improve user experience.

• Passkeys in payment prevent phishing and fraud: Passkeys eliminate phishing and password-related breaches, as they are phishing-resistant and prevent attacks such as credential stuffing or account takeovers.

• Better user experience in the checkout, login and sign-up process: The quick and simple login and sign-up process with biometrics (e.g., Face ID, Touch ID, Windows Hello, Android Biometrics) is something that users are already familiar with. For many implementations, no additional app or extra hardware device needs to be purchased, which makes things easier for the user.

• Passkeys reduce operational costs for payment providers: Passkeys reduce providers’ reliance on costly SMS-based 2FA methods or other operational costs in the customer support or IT support team (e.g., to recover accounts or help on password / MFA resets). Moreover, the reduction of fraud by passkeys helps to prevent costly cases where customers might be scammed.

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Payment providers are adopting passkeys to address growing cybersecurity threats and customer demands for seamless digital experiences. Traditional authentication methods, such as passwords and SMS-based 2FA, are vulnerable to phishing, SIM-swapping attacks, and poor user experience. Passkeys solve these issues by leveraging FIDO2 / WebAuthn standards, which use public-private key cryptography.

• Phishing Resistance: Passkeys authenticate users without sharing secrets over the network; they are bound to specific domains, preventing use on fraudulent sites.

• Support across devices: Passkeys in payment applications ensure seamless access for users across multiple devices. Whether you’re using Face ID on iPhone, Windows Hello on a laptop, or Android biometrics, passkeys can sync through iCloud Keychain or Google Password Manager, making online payments effortless.

• Improved User Experience (UX): Passkeys offer a frictionless authentication process during payment checkout, significantly reducing transaction abandonment and increasing successful payment completions.

In the following, you’ll see an overview of which payment providers use passkeys to protect their users.

Many leading payment providers in the USA are either already supporting passkeys or working towards their passkey implementation.

Yes! PayPal fully supports passkeys. Users have been able to use passkeys since late 2022, enabling biometric-based login across iOS, Android, and macOS.

Key highlights:

• Implementation Date: Passkey rollout started in late 2022.

• Cross-Platform Support: Passkeys work seamlessly on all major browsers and devices.

• Significant Adoption: PayPal actively promotes passkey use, encouraging a steady adoption increase among its global user base.

Global Rollout: PayPal has rolled out passkeys not only in the US but across the globe. In Europe, where SCA and PSD2 compliance play a role, PayPal actively advocates for synced passkeys being compliant to these regulations (e.g. in PSD3) and pushing a more outcome-focused approach for SCA.

Stripe offers full passkey support for its users, specifically for secure, passwordless login to the Stripe Dashboard using biometric authentication. However, passkeys are not used for authenticating transactions within the payment checkout process itself.

Link (by Stripe) offers full passkey support for its users. You can set up a passkey through your user profile, enabling secure, passwordless login to the Stripe Dashboard using biometric authentication.

Passkeys on Link

Square offers full passkey support for its users, specifically for secure, passwordless login to the Square Dashboard using biometric authentication. However, passkeys are not used for authenticating transactions within the payment checkout process itself.

Adyen currently does not support passkey authentication for user accounts. The company employs other multi-factor authentication (MFA) methods, including one-time passwords (OTP) and authenticator apps, to secure user access.

Authorize. net has not implemented passkey support. The platform secures user accounts using multi-factor authentication (MFA), requiring a one-time passcode or PIN verification sent to the registered email during each login.

Fiserv's Clover does not currently support passkeys for merchant account logins, focusing instead on OAuth.

While passkey adoption among Australian payment providers is still limited, several key players have begun supporting passkeys or are exploring their implementation.

Afterpay currently does not offer passkeys. It uses email/password and SMS-based two-factor authentication, with no announced plans for passkey implementation yet.

Zip Co fully supports passkeys, allowing customers to securely log in using biometric authentication methods such as fingerprint or facial recognition.

Airwallex does not currently support passkeys.

Tyro Payments has no public information on passkey implementation. Currently, the company doesn't support passkeys or indicate plans to adopt them.

European payment providers and fintechs are gradually adopting passkeys, driven by PSD2/SCA requirements and user demand.

Klarna is currently developing passkey support, and is expected to roll it out soon. They already have a FAQ page about passkeys on their website. At present, users log in using email or SMS verification codes. While biometric login is already available within the Klarna app, it does not yet utilize the passkey standard.

Adyen does not support passkeys. The company employs multi-factor authentication (MFA) methods, including authenticator apps and SMS verification, to secure user access.

Revolut has fully implemented passkey support, allowing users to log in using biometric authentication methods such as fingerprint or facial recognition.

Key Highlights:

• Early European Adoption: Revolut was one of the first European fintech providers to adopt passkeys comprehensively.

• Integrated Biometric Support: Complete implementation across mobile applications and user accounts.

What are passkeys? – Revolut

SumUp offers passkey login for user accounts, enabling secure access via device biometrics or PIN through supported web browsers. However, passkeys are not used for authenticating transactions within the payment checkout process itself.

Key Highlights:

• Browser-Based Authentication: Fully supports passkeys on modern web browsers.

• User Convenience Focused: Early adoption has driven user-friendly login processes for merchants.

Secure login – SumUp

Finom has fully implemented passkey support, allowing users to log in securely using biometric authentication methods like Face ID or Touch ID. However, passkeys are not used for authenticating transactions within the payment checkout process itself.

Worldline does not currently support passkeys. The company utilizes two-factor authentication (2FA) methods, including authenticator apps, to secure user access.

Asia is a key region for passkey adoption, with large digital payment platforms integrating advanced authentication.

AliPay does not currently support passkeys. The platform relies on traditional password-based authentication and two-factor authentication (2FA) via SMS or email. There is no public indication of passkey implementation at this time.

WeChat Pay has partially implemented passkey support. As of November 2024, passkey login is available for iOS users outside of China, allowing authentication via Face ID, Touch ID, or device passcode. This feature is not yet available for users within China or on Android devices.

iOS Passkey is here – WeChat account

Grab has introduced passkey authentication within its main application as of December 2024, enabling biometric login methods. However, specific support for GrabPay transactions has not yet been publicly confirmed. Passkey implementation specifically for GrabPay remains under development.

Razorpay is currently piloting passkey support in collaboration with Mastercard's Payment Passkey Service in India. This initiative enables biometric authentication for online transactions, aiming to enhance security and user convenience.

Razorpay Biometric Authentication

Some payment platforms may support hardware security keys like YubiKeys, typically as a phishing-resistant two-factor authentication (2FA) method alongside passwords.

Key insights:

• Standalone multi-factor authentication (MFA) using YubiKeys for all payment provider accounts is not yet universal.

• FIDO-based passwordless login (passkeys) is gaining momentum, with hardware keys often serving as an additional security layer rather than the primary login method for consumers.

• As the industry moves towards passwordless payments, passkeys are likely to become the preferred method over physical security keys for general consumer use due to ease of use and device compatibility.

Payment providers worldwide are actively transitioning to passwordless authentication due to the rising risks of phishing, social engineering attacks, and credential theft. With the increasing use of AI-powered phishing tactics, traditional passwords have become a major security vulnerability.

While payment providers aim to eliminate passwords, the transition will happen in phases:

1. Current state: A hybrid model where providers offer both password-based and passwordless authentication methods, such as passkeys.

2. Near future: Increased adoption of payment passkeys, with passwords gradually phased out.

3. Long-term goal: A fully passwordless payment experience for both consumer and business/merchant accounts.

For consumer payments, passkeys are the most scalable and user-friendly solution. Unlike some hardware-based security keys, passkeys:

✅ Do not require additional hardware for many users.

✅ Are built into users’ existing devices (smartphones, laptops).

✅ Work seamlessly across platforms (iOS, Android, Windows).

✅ Provide a fast, frictionless login experience.

Given these advantages, consumer payment passwordless authentication is expected to become the industry standard, ensuring both security and convenience.

Business/Merchant Payment Passwordless

The adoption of passwordless authentication for business or merchant accounts may be paced differently compared to consumer accounts. This can be due to:

• Stricter compliance regulations potentially requiring specific verification layers.

• Corporate IT security policies that may have existing authentication methods.

• The need for integration with diverse B2B systems and workflows.

  While fintech passkeys and enterprise passkeys are becoming more common for business use, adoption is gradual and may vary based on specific business needs.

The financial industry is moving towards passwordless authentication as a standard security measure. Payment passkeys provide:

• Phishing resistance – Eliminating credential-based attacks.

• Faster login times – Improving user experience.

• Cost savings – Reducing dependency on SMS OTPs and call-based verifications.

• Improved User Experience (UX): Passkeys offer a frictionless authentication process during payment checkout, significantly reducing transaction abandonment and increasing successful payment completions.

• Industry alignment: Following FIDO standards for payment security.

As more payment providers integrate passkeys, customers will expect passwordless authentication to be the default standard. Stay ahead of the curve by adopting passkeys for payments today!