Tech firm CompuLynx enters contactless payments market

Tech firm CompuLynx enters contactless payments market

Tech firm CompuLynx enters contactless payments market 1084 704 KISHAN

CompuLynx has entered the contactless biometric payment solutions market.

Chief executive Sailesh Savani said the Covid-19 pandemic had necessitated the development of secure contactless payment solutions that discourage the use of currency notes, thought to be a vector for transmitting the coronavirus.

“In a pandemic world, customers are turning to their trusted institutions to seek safe, secure and convenient contactless biometrics digital identity solutions — from options of digital account opening to card issuance and contactless payments,” he said.

The firm with presence in 37 countries serving 400 businesses urged lenders, corporates and other businesses that use log-in access portals to transition to contactless technology to reduce the risk of Covid-19 infections.

Mr Savani said the adoption of local solutions would help ease costs of maintenance as local technicians were available round the clock to visit a client or via virtual interactions to tackle arising challenges.

Among the products being piloted is a virtual branch platform where clients open new bank accounts from the comfort of their homes using smartphones to access bank portals. The firm has also incorporated facial and voice technologies as well as identity experts to determine if an identity document is authentic and belongs to the applicant.

Last month, the global payments technology firm, Mastercard increased its contactless payments limit to Sh3,500 from Sh2,500 enabling holders of bank cards to settle payments by swapping the cards at participating merchant shops.

https://www.businessdailyafrica.com/markets/marketnews/-CompuLynx-enters-contactless-payments-market/3815534-5562580-l11yqsz/index.html

Source: By JAMES KARIUKI – Business Daily


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