Biometric Authentication of ATMs, PoS to Commence in 2015

The Governor of the Central Bank of Nigeria, Sanusi Lamido Sanusi, has declared that the biometric authentication of Point of Sales (PoS) terminals and Automated Teller Machines (ATMs) will commence in 2015.

He said the move was aimed at addressing concerns over the safety of customers’ funds and also to avoid losses through compromise of Personal Identification Number (PIN).Statistics show that this effort has reduced the fraud incidences by 90%. Many customers are now embracing these electronic (ATM and PoS) channels in their transactions.

myfinancialintelligence.com