Nigeria’s First Bank has partnered with Unified Payments to introduce PayAttitude, ‘a Chip and PIN-enabled tag-type contactless solution’, which is ready to be issued in selected branches, according to its Group Managing Director and Chief Executive Officer, Bisi Onasanya.
The payment solution is said to be in tandem with the bank’s objective to drive innovation in service delivery and convenient mobile payment systems. With PayAttitude, customers can link their prepaid mobile wallets, enabling access to their account(s) for different payment transactions and then tapping their phone on a PoS machine to make payments. Sans card.
PayAttitude uses NFC (Near Field Communication) technology to convert the mobile phone of a subscriber or customer to an NFC device and link the mobile phone to their debit or pre-paid mobile wallets enabling them to debit their accounts for different payment transactions.
But unlike payment transactions that are incomplete due to PoS connectivity issues or network availability problems that may arise either from the merchant’s bank or the customer’s bank, the PayAttitude solution boasts 100% approval rate for all transactions at all times, since transactions are authorised offline up to the value of the customer‘s mobile wallet subscription with the Bank.
With its Chip-based and PIN-enabled functionality, it also means that a customer’s unique PIN must be entered on the acceptance device before any transactions are approved, so that helps to guard against fraud or any unauthorised use of the solution.
The solution is expected to be introduced to other leading banks in Nigeria in the nearest future.
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