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South Africa-based FNB changes online payment approvals

Monday 16 November 2020 14:08 CET | News

First National Bank (FNB) has decided to change the way customers approve their online payments, in a bid to the make the process more secure and reduce instances of fraud.

Customers will no longer receive a one-time PIN (OTP) to approve transactions, and will have to manually okay the purchase within the group’s banking app. When approval is required, the following will happen:

  • When FNB requires you to approve your online purchase, it will send an app notification.
  • Customers will need to log in and approve or decline the payment on the FNB App.
  • This replaces the OTP customers have received in the past, and is more secure.

For a limited time, for customers without the app, FNB said it will temporarily SMS the OTP for online authorisation to a customer’s mobile phone and online banking. However, this system is being removed for other channels, such as email, according to businesstech.za.


Source: Link


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Keywords: FNB, South Africa, online payments, First National Bank, fraud, OTP, mobile banking, app
Categories: Banking & Fintech
Companies:
Countries: South Africa
This article is part of category

Banking & Fintech

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