Visa, security startup Keyno and Fidelity Bank Bahamas have launched Tap, a pilot identity verification service that uses near-field communication in payment cards to authenticate users. The partnership aims to enhance security at points of sale and online gateways by replacing password or code-based checks with a simple card tap.

Tap embeds cryptographic keys within EMV payment cards, enabling secure element interactions when tapped on NFC-enabled terminals. Cardholders complete authentication in under three seconds, and financial institutions can configure risk thresholds and transaction limits within the Tap platform.

Initial trials will commence in the Bahamas market with plans to expand to other Caribbean markets later this year. Visa projects that Tap could reduce fraud-related losses by up to 30% for participating issuers and streamline transaction approvals for merchants.