Poland's second biggest consumer bank has presented an app that uses biometrics not only for login, but also for transaction confirmation
Pekao's new mobile banking app has a unique functionality - it allows the user to authorize selected transactions using fingerprint biometrics. Both Android and iOS smartphone users will be able to confirm online shopping payments and transactions of up to 200 zł. So far the competition has only used fingerprints for app login - which Pekao customers will be able to do as well.
Another characteristic functionality of the new PeoPay is the possibility to use contactless HCE mobile transactions not only in the Polish złoty, but also in various other currencies, without the need for several plastic currency cards. Pekao uses Mastercard's tokenization technology that connects Peopay with a customer's various accounts using tokens. All the customer needs to do is provide enough money on their currency accounts so that, while traveling through Europe or the rest of the world, POS transactions can be automatically carried out in euro, dollars or pounds, depending on whether they paid for their shopping in Berlin, New York or London.
Pekao representatives state that even though the new PeoPay is a hybrid app, switching between native functionalities run by the smartphone, and functionalities that use HTML and are run through servers, is almost unnoticeable. The bank is planning to further develop their mobile services. It will soon offer so called mobile authorization, which lets customers confirm their transfers carried out from the online transaction platform in their smartphone app.