LYNK Digital Currency Wallet Secure

Administrators of the Lynk digital payment wallet are assuring that the platform has built-in mechanisms to protect users from fraud and theft.

The wallet, an app that can be downloaded on mobile devices, facilitates transactions involving the Bank of Jamaica’s (BOJ) Central Bank Digital Currency (CBDC) – ‘JAM-DEX’.

Chief Product Officer for Lynk, John Matthew Sinclair, told JIS News that from the initial stages of persons creating an account, the know your customer (KYC) requirements utilised allows the app to collect certain biometric data.

“Upon onboarding, we do take a video selfie. So, we capture your face and some movement; that is stored, secured and encrypted in our database,” he informed.

Mr. Sinclair advised that any attempt to access an account from any device other than the one used to create it, will trigger the platform’s security protocols.

These, he said, include prompting the user to enter three random numbers sent to the phone, as well as a request to view the face of the person trying to access the account.

“It’s going to show me a screen to allow me to take the same video selfie, and it’s going to compare the new video with what was stored in the database. If they don’t match, your account… can’t be accessed,” he pointed out.

Meanwhile Mr. Sinclair urges digital wallet holders losing their phones used for JAM-DEX transactions, to contact Lynk’s customer care service to close the account and activate the requisite responses.

Lynk is currently the sole approved wallet provider for JAM-DEX and is available through National Commercial Bank (NCB).