Nilson Report: Visa and Keyno: Turning Payment Cards into Trusted Digital Identity Credentials
June 15, 2026
Visa and Keyno are redefining the role of the payment card. From a payment instrument to a trusted digital identity credential. See how Fidelity Bank Bahamas is bringing this vision to life.
Visa Offers Card-Based ID Verification with Keyno
Recently featured in the Nilson Report, one of the payments industry's leading publications, Visa's collaboration with Keyno highlights how payment cards are evolving beyond payments into trusted digital identity credentials.
A recent Visa-sponsored test involving 15 issuers across multiple regions demonstrated the impact of Keyno's dynamic CVV2 technology. The solution reduced card-not-present fraud to 0.57 basis points, a 97% reduction compared to cards using only static CVV2 security.
The technology extends beyond fraud prevention. Through a single SDK integrated into a mobile banking app, issuers can enable a range of services including cardholder verification, card activation, transaction authentication, token management, and digital card experiences.
Most recently, Fidelity Bank Bahamas deployed two Keyno-powered use cases in collaboration with Visa.
With Tap to Confirm, cardholders can tap their Visa card on their mobile phone and use the bank's app to verify their identity before enrolling in dynamic CVV2 and 3D Secure services. This confirms the customer is in possession of the card while creating a stronger layer of security for high-value transactions.
Through Tap to Activate, customers can instantly activate new cards by tapping them on their mobile device. The process eliminates phone calls, activation codes, and unnecessary friction during onboarding.
As highlighted by the Nilson Report, the payment card is becoming much more than a payment tool. The collaboration between Visa, Keyno, and Fidelity Bank Bahamas demonstrates how card-based authentication can strengthen security, simplify customer journeys, and help shape the future of digital identity.
