Nigerian fintech launches biometrics platform for merchant payments

Nigerian digital payment services provider Accelerex has rolled out a system to facilitate merchant payments across the country using fingerprint biometrics.

With the “Payment with Fingerprint” system launched early this month, bank account holders will be able to complete payment for their purchases using fingerprint biometrics-enabled Point of Sale (PoS) terminals, the firm says in an announcement.

Accelerex mentions that the innovation comes with many benefits including enhanced security and a stress-free payment experience. It also helps bypass some of the problems such as fraud related to card payments, it notes. With the fingerprint system, only the bank account holder can authorize payment through the verification of fingerprint biometrics linked to their bank account.

Convenience of payment is also said to be a major benefit of the system as apart from helping in “quickly and effortlessly” making payments for their merchant transactions, it also saves them the burden and security risk of carrying bank cards around.

“The launch of Pay with Fingerprint is a testament to our unwavering commitment to revolutionize Nigeria’s payment infrastructure with secure, user-centric solutions that provide consumers with choices,” said Accelerex Managing Director, Chuks Anakudo.

The company, which has over 150,000 merchants and agent endpoints in the continent, says the launch of Pay with Fingerprint adds up to “a robust portfolio of payment products and a strong emphasis on customer satisfaction,” in Africa.

The rollout of the fingerprints payment feature comes not long after Accelerex says it earned certification for biometric PoS devices by the Nigeria Inter-Bank Settlement System (NIBSS).

With present in Nigeria, Ghana parts of East Africa, Accelerex says it is working on a plan to expand its offering to other parts of Africa.

Accelerex was involved in a bank ID initiative for the Central Bank of Nigeria, implemented by Integrated Biometrics.

Article Topics

Accelerex  |  Africa  |  biometric payments  |  biometrics  |  fingerprint biometrics  |  Nigeria  |  point-of-sale