Access Bank is set to launch a face recognition payment solution platform. Nigeria’s multinational commercial bank is reportedly set to launch a state of the art technology solution. This new payment system will give the platform the ability to pinpoint the user without the need of him/ her inputting passwords.
The introduction of this new payment facial recognition system will enable users enjoy a safe, fast and easy service when making payment at Merchant locations without cash/card. The next question that might be asked is why this technology solution matters. The answer is simple! Access bank is making life easy for its customers by the introduction of the payment solution as the new system will enable fast transactions in branches where they are located. Apart from this, this system also launches another payment method for customers and merchants respectively.
Adding to the benefits already listed, the face recognition system will also provide assistance to the elderly or uneducated individuals who cannot cope with the difficulties of internet banking , mobile apps to do their transactions without any hassle.
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Over the past three years, the three payment giants (UnionPay, WeChat and Alipay) in China also set up their Facial Recognition payment system. This payment technology is already becoming “hot cake” in China as statistics indicates that the ending of 2018 saw a rise of more than 300 KFCs in over 100 cities who had already introduced brush face payment cash registers.
Planning to introduce this service to the Nigerian market, Access bank is on it’s way to reinforcing its position as one of the leading financial institutions in Africa.
Here are some details about Access Bank: Access Bank Plc is presently one of the five largest banks in Nigeria in terms of assets, loans, deposits and branch network. It is headquartered in Lagos with about six hundred branches.
The merger between Access Bank and Diamond Bank has positioned the former to be the largest bank in Africa. Access Bank Plc is a Nigerian multinational commercial bank, owned by Access Bank Group. It is licensed by the Central Bank of Nigeria (CBN), the national banking regulator.