Friday, July 27, 2018
The new solution allows acquirers, ISOs and other payment services providers, as well as merchants, to handle PIN payments initiated in face-to-face environments using commercial off-the-shelf (COTS) mobile devices. And to do so without first going through certification of compliance with Payment Card Industry (PCI) standards. "The removal of complexity and certification hurdles enables all merchants to deploy a PoM solution simply and quickly," the company stated.
The PCI Security Standards Council announced a new standard in January specific to software solutions for PIN entry POS transactions using COTS devices, like smartphones and tablets. Previous PCI standards for PIN security had been limited to hardware-based solutions.
The newest PIN security standard "allows for an alternative approach to secure PIN entry by isolating the PIN from other data and using a new robust set of security controls that extend beyond the physical hardware device itself," explained Troy Leach, the PCI SSC's chief technology officer. "The PCI Software-Based PIN Entry Standard gives solution providers and application developers a baseline of security requirements specifically for accepting EMV contact and contactless transactions using software-based PIN entry."
"With the new PIN entry standard, the PCI Council has responded to market need by specifying the security requirements for allowing PIN entry directly on the mobile touchscreen. This means [a merchant now] can accept payments with just their mobile device and a small, cost efficient card reader connected to it along with a secure PIN entry application," said Aite Group Senior Analyst Ron van Wezel. This should make PIN-authorized mobile payments more affordable for smaller merchants that find the cost of EMV-compliant PIN hardware out of reach, he added.
Open mPOS utilizes application programming interfaces (APIs), coupled with a MyPINPad secure card reader, to quickly integrate with a merchant's existing POS payment applications, the company stated.
"As technology trends influence innovation, accessibility and security, merchants of all sizes and consumers are looking to the payments industry to respond rapidly with products and services that meet their ever-increasing needs," said David Poole, global head of mobile POS solutions at MyPINPad. "Open mPOS will enable rapid deployment of PIN on Mobile, enrich the consumer's in-store shopping experience and grow acceptance points globally."
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