The Central Bank of Nigeria (CBN) Says the Point of-Sale (PoS) terminals and the Automated Teller Machines (ATMs) will be bio-metric driven by 2013.
Mr Gaius Emokpae, the CBN Acting Director (Banking and Payment System Department), disclosed this at a seminar organised by the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos on Wednesday.
The theme of the seminar was "Electronic Banking and Payment Systems in a Cash-less Economy".
He said that the new system would leverage on the consumers' identification, a platform which the apex bank had been championing.
Emokpae, who was represented by Mr Oluranti Mosaku, Payments Analyst at the CBN, said that the development would prevent fraud and build consumer confidence in the use of electronic channels.
According to him, the plan was part of the Payments System envisioned in the Vision 20:2020, stressing that the bio-metric feature would assist the Evidence Act in the fight against incessant cases of frauds associated with electronic payment.
He advised the Nigeria Identity Management Commission (NIMC) to speed up its commencement to check frauds and other related vices in the banks. NAN
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