In a remarkable leap forward for financial convenience, Guaranty Trust Holding Company Plc (GTCO Plc) has once again set the standard for innovation in Nigeria’s banking sector. Known for its pioneering spirit, GTCO’s GTBank has been at the forefront of introducing cardless transaction options across its Automated Teller Machines (ATM) network, providing customers with the flexibility to access cash without the need for a physical card.

Building on this legacy, GTCO has now unveiled a groundbreaking feature that allows customers to withdraw cash at Point of Sale (POS) terminals using just their fingerprint. This latest enhancement is a testament to GTCO’s unwavering commitment to leveraging technology for enhanced customer experience.

The Evolution of Cardless Transactions

GTCO’s journey into cardless banking began with the introduction of unmanned electronic branches (e-branches), which transformed the customer experience by eliminating the need for human interaction during transactions. Customers could withdraw, deposit, and transfer funds seamlessly using ATMs and other digital tools, even outside regular banking hours or during holidays.

The Fingerprint Withdrawal Experience

The new fingerprint withdrawal feature at GTBank POS machines is a natural progression of GTCO’s innovative drive. It simplifies the process of accessing funds and ensures security and convenience are at the heart of every transaction. Here’s how it works:

1. Initiation: The merchant selects the ‘pay with fingerprint’ option on the POS machine’s home screen.
2. Transaction Details: The merchant inputs the withdrawal amount, and the customer provides their 11-digit phone number.
3. Biometric Verification: The customer chooses either their right or left thumb for the biometric scan and places it on the fingerprint reader.
4. Completion: A successful scan leads to the completion of the transaction, and the merchant hands over a receipt along with the requested cash.

This intuitive process was showcased at the GTCO Food and Drink Festival held at GTCentre, Lagos, from April 26th to 28th, 2024. Attendees were able to experience firsthand the ease and efficiency of the cardless POS transactions.

Looking Ahead: The Future of Banking

As GTCO continues to push the boundaries of what’s possible in banking, the future looks promising for the proliferation of cardless POS machines throughout Nigeria. This advancement not only aligns with the

global shift towards digital banking but also caters to the local needs of providing accessible financial services to all, regardless of location.

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GTCO’s dedication to innovation is shaping a future where banking is not just a service but an experience tailored to meet the evolving needs of its customers. With such technological strides, GTCO is not just blazing a trail; it’s lighting the path for others to follow.