NatWest unveils biometric payment system for businesses

NatWest has launched biometric payment approval technology for business and commercial customers. In an announcement Tuesday, the bank said the system enabled its customers to make payments, via an app, using Apple’s Face ID or Touch ID. Once a customer registers a device, they set up and give approval for a payment using biometric authentication. They then enter a six-digit code to complete the transaction. To start with, the technology is being introduced to iOS users. NatWest said it expected the feature to be available on Android and other platforms in the second-half of the year. James Holian, NatWest’s chief operating officer for Commercial and Private Banking, said that the new system offered « unprecedented levels of security » through three levels of unique authentication and gave customers the ability to make payments of any size. « We feel this is another important innovation that will make it easier for our customers to get on with doing what they do best: running their business, » he added.

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This week’s news follows on from NatWest’s announcement in March that it would launch a trial of biometric fingerprint technology for card payments. The pilot will enable a selection of customers to use their fingerprint to verify payments of more than £30 ($39.16). The new card contains a customer’s fingerprint data and a sensor. To authorize a payment over £30, users place their finger on the sensor.

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Source: CNBC

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