New ShoCard-powered ATM to Use Blockchain Biometric Face App to Withdraw Crypto Funds
Biometric ATMs are taking shape across the world after the successful installation of Caixa Bank ATMs in Spain and NEC technology supported ATMs in Taiwan.
The latest country to join the biometric train is Saudi Arabia as the largest automated teller machine manufacturer, Alhamrani Universal (AU) partners with ShoCard to develop a biometric ATM. The prototype expected later in the year allows users to use a blockchain based model and biometric face recognition rendering the PIN system obsolete.
The test phase is currently ongoing on the viability of the biometric ATM to communicate across the banks and manage digital identity on the blockchain. As part of the security measures placed on the biometric ATMs, users will have a five factor authentication process including the ShoCard ID, a QR Code, timestamps, session IDs and other certifications methods.
The AU- ShoCard biometric ATMs will be able to support various banks across the world as long as the biometric features are implemented. This is made possible by the combination of blockchain records and biometric identification of the customers.
The prevalence of bank card fraud has increased in the past few years as hackers formulate better ways to deal with the problem. The founder and CEO of ShoCard, Armin Ebrahimi praised the initiative as an easy option to banks to implement reducing card fraud significantly. He further said,
“It fits nicely into existing ATM technology, which usually already has a camera installed, and makes the customer experience as seamless as possible. At the same time, it utilizes blockchain technology to protect individuals’ identity while confirming the information that banks need to verify that a withdrawal is legitimate.”
Similarly praising the new AU-ShoCard prototype, the CEO of Alhamrani Universal, Tariq Abdat termed the biometric blockchain a solution to help reduce fraud for customers.
He further spoke on the key of digitization in Saudi Arabia as part of the countries vision in the next 10 years hence the need for partnerships with the tech world, as they did with ShoCard.
“Digital transformation is a key pillar of Saudi Arabia’s Vision 2030 and collaborating with trusted technology partners such as ShoCard allows us to offer solutions that meet ever-growing demands for innovations.”