FNB to expand “Tap and PIN” feature to more ATMS
First National Bank (FNB) announced it will be expanding its contactless “Tap and PIN” functionality to 600 more ATMs across South Africa over the next year.
Launched last year in November, the bank became the first bank in South Africa to offer consumers the convenience and safety of ‘Tap and PIN’ on ATM transactions.
What is Tap and PIN?
According to FNB, the feature allows consumers to safely tap their contactless card on the contactless reader of an eligible FNB ATM and enter a PIN to finish the transaction.
It also helps FNB customers by giving them further protection against card skimming devices by not having to insert their card for a withdrawal and is compatible with a debit and credit card.
FNB Retail chief executive of Raj Makanjee said in a statement: "Contactless payments offer substantial benefits in an era where consumers and retailers want to avoid long queues. From an FNB point of view, we are creating an enabling ecosystem for retailers to match consumer appetite by improving the contactless acceptance footprint in the Retail environment."
There are currently more than 100 ATMs which have supported the technology since it was first implemented in 2018.
“This roll-out is part of our journey to consistently empower customers with tools to perform transactions in a convenient and secure manner,” said Makanjee.
“We have been issuing contactless-enabled debit and credit cards to help customers take full advantage of the growing contactless ecosystem.”
FNB added that the majority of the active “Tap and PIN”-enabled ATMs are located in Gauteng, Kwa-Zulu Natal and the Western Cape. However, this will change as it expands the technology to most parts of the country.
Written by: Gabriella Steyn.