NatWest becomes first UK bank to use biometric payment approval for all Business payments
NatWest has today announced the launch of a new biometric payment approval feature, which allows business and commercial banking customers to make payments of any size through their Bankline Mobile app using Face ID or Touch ID, without the need for a card reader – a UK banking first.
The new feature also allows businesses to authorise multiple users to setup payments, which business owners can then subsequently approve on the go through their app, providing additional flexibility and ease over payment management.
Customers can make a payment thanks to three unique security factors: once they have registered their device, they can then set up and approve a payment using biometric authentication – such as Face ID or Touch ID – before entering their six digit Bankline Mobile Keycode to complete the process.
The bank has worked with leading external partners to ensure that the new feature is completely secure and complies fully with the forthcoming Payment Service Directive (PSD2) regulations that govern Secure Customer Authentication, due to come into effect later this year.
The lender is initially rolling the improvement out to iOS users today, with availability on Android and other platforms expected to follow in the second half of the year.
James Holian, chief operating officer, Commercial and Private Banking, NatWest, says: “We know that ease, speed and security are important to our customers, and that’s why we’re excited to be the first UK bank to offer biometric payments of any size, through our Bankline Mobile app. By offering unprecedented levels of security via three levels of unique authentication, as well as the ability to make payments of any size, we feel this is another important innovation that will make it easier for our customers to get on with doing what they do best: running their business.”
The launch is the latest biometric payment first from the bank – in March they announced that they were the first UK bank to launch a biometric card for personal customers, allowing payment of transactions over £30 with a simple touch of the card.