African fintech company, Accelerex Introduces ‘Pay With Fingerprint’ Solution, Plans Continental Expansion

Advertisements

A fintech startup called Accelerex has introduced a system that allows customers to make payments using just their fingerprints.

A statement from the company stated the “Pay with Fingerprint” solution would be the first implemented on Point of Sale terminals in Nigeria.

The company assured that it would enable bank account holders to use their fingerprints on biometric-enabled PoS devices to make safe and convenient payments at merchant locations.

According to the Managing Director of Accelerex Nigeria, Chuks Anakudo, “The launch of Pay with Fingerprint is a testament to our unwavering commitment to revolutionise Nigeria’s payment infrastructure with secure, user-centric solutions that provide consumers with choices.”

The package involves just touching the biometric point-of-sale (PoS) gadget with their finger, which allows customers to make payments without any friction.

Indeed, daily purchases will become more efficient and convenient with this approach, which also removes the need for plastic cards and speeds up transactions.

Anakudo stated the company’s dedication to revolutionising the payment environment in Nigeria by implementing this safe and user-friendly solution.

Indications are that Accelerex has not only created this innovative technology but also received a unique certification for its biometric proof-of-sale devices from the Nigeria Inter-Bank Settlement System (NIBSS).

Accelerex’s standing as a forerunner in the Nigerian fintech industry is cemented by this honour.

In Nigeria, Accelerex has been a top provider of payment channel services (by value of transactions handled) since 2018. Accelerex has over 150,000 merchants and agent endpoints throughout Africa.

With intentions to eventually extend to other regions of the continent, it presently works in Nigeria, Ghana, and East Africa.

Earlier report stated that Global payroll technology startup Cadana, which focuses on emerging markets, revealed that it has raised $7.4 million in funding so far, with Costanoa Ventures leading the round.