Fintech
Nigerian Fintech Launches Biometric Platform for Merchant Payments
Nigerian Digital Payment Service Provider Accelerate has implemented a system to facilitate payments to merchants across the country using fingerprint biometrics.
With the “Fingerprint Payment” system launched earlier this month, bank account holders will be able to complete payment for their purchases using fingerprint biometrics-enabled Point of Sale (PoS) terminals, the company said in an announcement.
Accelerex says the innovation brings with it many benefits, including improved security and a stress-free payment experience. It also helps overcome some issues, such as card payment fraud, as it notes. With the fingerprint system, only the bank account holder can authorize the payment through fingerprint biometric verification linked to their bank account.
The convenience of payments is also said to be a major advantage of the system, as it not only helps them make payments for business transactions “quickly and effortlessly”, it also saves them the burden and security risk of carrying credit cards with them.
“The launch of Pay with Fingerprint is a testament to our unwavering commitment to revolutionizing Nigeria’s payment infrastructure with secure, user-centric solutions that provide consumers with choice,” said Accelerex Chief Executive Officer, Chuks Anakudo.
The company, which has more than 150,000 merchants and agent outlets across the continent, says the launch of Pay with Fingerprint adds to “a robust portfolio of payments products and a strong emphasis on customer satisfaction” in Africa.
The launch of the fingerprint payment feature comes shortly after Accelerex announced that it has obtained certification for biometric PoS devices from the Nigeria Inter-Bank Settlement System (NIBSS).
With a presence in Nigeria, Ghana and parts of East Africa, Accelerex says it is working on a plan to expand its offering to other parts of Africa.
Accelerate He was involved in a bank identification initiative for the Central Bank of Nigeria, implemented by Integrated Biometrics.
Article topics
Accelerate | Africa | biometric payments | biometrics | fingerprint biometrics | Nigeria | point of sale
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