Yes! It is live on Ingenico’s website – they have issued a press release about the GTBank’s Fast Track Banking solution. We are very happy to be associated with that – we worked with Ingenico to make this project a success.

Here is the press release:

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Ingenico Provides GTBank Nigeria a Safe and Secure Fast Track Banking Solution

Neuilly sur Seine – September 1, 2011. Ingenico (Euronext : FR0000125346 – ING), leading worldwide provider of payment solutions, today announces that in a bid to improve the verification method and transaction turn-around times, it has implemented a Branch Banking solution to create a Fast Track Service lane in the banking halls of Guaranty Trust Bank (GTBank), Nigeria. This innovative solution requires every customer to use their debit cards on Ingenico iPP350 PIN pad terminal for their cash withdrawal and deposit transactions.

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The iPP350 is an innovative PIN pad that supplies every possible payment method, including contactless.

GTBank is one of the most innovative banks in Nigeria. It has been awarded “best bank in Nigeria” for three consecutive years. In line with its strategy to continuously improve its 3 million customers’ experience, GTBank has partnered with Ingenico to deploy a Branch banking solution with 850 units of iPP350 PIN pad terminal across its 187 branches nation wide.

GTBank was previously offering their customers a slip method of fund withdrawals from their savings accounts. The customer filled a withdrawal slip, gave it to the operations staff who then called up the customer’s details within the banking application, and verified that the customer was the real account holder. Upon successful verification, the customer was paid.

This former method of verification has not been very effective as a defrauder could look like the real account owner and verification was solely dependent on the judgement of the Teller Officer who decided whether to execute the transaction or not. Another drawback to the above method of verification was the long queue of customers in the banking halls as a result of low rate of transaction turnaround. Customers stayed longer in the banking halls filling out withdrawal and deposit papers and waiting on queues to complete their transactions. GTB’s partnership with Ingenico has brought forward a new dimension in banking services providing customers an experience based on security, convenience and fast turnaround transaction time.

Ingenico’s Branch Banking Solution carries out the customer’s debit card PIN validation online via the iPP350 PIN pad terminal. It is an end-to-end solution: hardware – iPP350, software – branch banking application, and Terminal Management System. The iPP350 is an innovative PIN pad that supplies every possible payment method, including contactless. Within the banking realm, it offers true convenience for shoppers and customers. Boasting secure transactions, extensive communication technologies and a plug-and-play installation, the compact retail PIN pad is an unmatched, innovative solution; speeding up transactions and satisfying customers’ needs within all GTBank’s branches.

With the opening of its first African subsidiary in Nigeria, Ingenico is committed to provide end-to-end world class innovative solutions in line with the Central bank of Nigeria (CBN) cashless policy. The Nigerian office is focused on providing end-to-end payment solutions including hardware, software, GPRS connectivity, Terminal Management Services (TMS) as well as providing Value Added Services (bill payment, lottery, health insurance, petrol, e voucher, microfinance…).