Leading payment networks aim to implement password-free checkouts globally by 2030 to address issues such as user frustration, security risks, and financial losses associated with traditional password use. Passwords contribute to friction in the checkout process, leading to $18 billion in annual losses for merchants due to cart abandonment, and they are a major security vulnerability, with 80% of data breaches linked to compromised credentials. Alternatives like one-time passwords and biometrics offer solutions but still present challenges in user experience and security. A more promising approach involves using device intelligence, which aggregates multiple data signals to reliably and invisibly identify returning users, allowing for seamless checkout experiences while mitigating fraud risks. This method not only reduces friction for returning users but also bolsters fraud prevention by identifying suspicious activities and differentiating between legitimate users and malicious bots or AI agents, thus enhancing trust and efficiency for customers, merchants, and payment networks alike.