The initiative has the financial backing of Bahrain’s public authority Tamkeen, and the support of the Bahrain Economic Development Board (EDB) and Central Bank of Bahrain (CBB).
Through this implementation, Ithmaar Bank customers will no longer be required to use their bank cards at ATMs. Instead, they will be able to use their fingerprint along with their PIN to process financial transactions. The platform, developed by Eazy Financial Services, is built on an automated fingerprint identification system.
Paytech and ATM firm NCR will help Eazy Financial Services to develop the necessary payment infrastructure to serve participating financial institutions in Bahrain, and over time expand to target the Middle East region.
The network will be available in phases for Ithmaar Bank customers in Q1 2019. In future, this may also include the point of sale (PoS) terminals.
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