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The First National Bank announced Tuesday that it was preparing to exploit the transactions made at its automated teller machines.
This will allow customers to enter their contactless card on the contactless reader of an eligible ETF ATM and enter a PIN to complete the transaction without having to insert their credit card.
This feature is currently available on 100 ATMs ETFs and others will be upgraded in 2019, the bank said in a statement.
The ETF believes that the "ATM Direct Debit" will reduce the time required to make a maximum withdrawal of 20 seconds per transaction.
"In addition to the convenience, ETF customers will also benefit from additional protection against card skimming devices by not having to insert their card to make a withdrawal", has it? he declares.
Raj Makanjee, CEO of FNB Retail, said that over the last three years, consumers have processed about 1 billion RL of contactless payments corresponding to five million transactions made only with credit and debit cards issued by FNB.
"Frequency of use by consumers has increased from 100% to 300% on our credit and debit cards, underscoring the confidence of our customers in adopting new secure payment methods," said Makanjee.
The bank has more than 8.5 million debit and contactless credit cards in the hands of consumers.
Pay ETFs on the FNB app as well as FitBit Pay and Garmin Pay have also proved popular, he said. "FNB Pay processes an average of 700 contactless transactions per day, while FitBit Pay and Garmin Pay have processed more than 1.5 million SARs in the last two months."
This article has been published with the permission of TechCentral. The original publication can be viewed here.
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