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Friday, Feb 28th

Biometric identification mulled for Nigeria’s ATMs

biometricdataghana

Biometric authentication systems for transactions carried out in Nigeria on Automated Teller Machines (ATMs) and Point of Sale Terminals (PoS) could become a reality in years to come.

The Central Bank of Nigeria (CBN) is considering rolling out a biometric authentication system for PoS and ATMs in 2015, in a move aimed at strengthening the payment system under the bank’s ‘cashless policy’ initiative.

Lamido Sanusi, the governor of CBN, has further said the initiative could help minimise fraud in the financial system.

He noted that the biometric system could avoid the likes of losses arising from compromised Personal Identification Numbers (PINs).

“No doubt, with the introduction of cashless society, there would be prevalent use of credit card to perform transactions on ATM, POS and internet banking, and these transactions would have to pass through the public infrastructure which are prone to cyber threats as being experienced in developed economy of the world.

"Cases of debit and credit cards cloning are other vulnerable areas that need urgent attention for the country to reap the benefits of cashless society," said Sanusi.

The call to adopt biometric systems at the likes of ATMs in the country comes after the CBN has moved to enforce a migration from magnetic stripe type debit and credit cards in the country to those that use chip and pin technology.

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