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require at least two of the following three authentication elements: to protect cardholder data. Merchants and
password/PIN, phone/card, or fingerprint/face recognition. PIN service providers will be freed from related costs,
is the most secure option, Pike noted, because it is required to complexities and the need to continually replace
complete the transaction and known only to the user. aging equipment to meet the ever-increasing PCI
standards, he stated.
PIN on mobile
Digital store transformation
Until recently, facilitating PIN entry involved certified service
providers physically injecting encrypted keys into hardware Mark Bunney, director, go to market strategy at
peripherals. This changed in 2019, when the PCI Security Standards Ingenico Group, observed that mobile technolo-
Council (PCI SSC) introduced SPoC (Software-based PIN entry gies are enabling digital store transformation. In a
on COTS) and CPoC (Contactless Payments on COTS). The new June 2020 FinTech Forward interview with Board
standards enable secure PIN entry on smartphones and tablets as Studios Inc., he suggested that PIN-on-mobile,
well as on traditional POS and mPOS devices. PIN-on-COTS and tap-to=phone initiatives reflect
a growing appetite for multiple facets of mobile
Colin Greene, CEO at MYPINPAD, called these standards a game technology.
changer. "The protection of data associated with payments has and
continues to be one of the cornerstones of the payments industry," "Some people may call it kiosk or digital signage,
Greene said. "Compared to an aging hardware-centric POS estate, but [mobile technologies] basically involve taking
PIN on mobile delivers best-in-class security at all times, protecting information and putting it into a digital form so a
both customer and merchant payment data." consumer can interact with it," Bunney said. "And
that could be on LCD screens, smartphones or
Greene further noted that the face-to-face payment environment tablet devices."
will no longer be reliant on expensive, single use POS hardware
Bunney pointed out that today's consumers have
a greater say in where this industry is headed.
They don't care about PCI or EMV; they just want
their payments to be safe and transactions to
be frictionless, seamless, automatic and readily
available to them, he stated. Consumers who were
once happy to have their cards accepted are now
expecting a great deal more from service provid-
ers, and we'll see more demand from them as pay-
ments technology continues to evolve, he added.

Innovation lab
In addition to freedom from the costs and com-
plexities of managing physical estates, digital
technologies afford users the freedom to inno-
vate, according to Brad Giles, senior vice presi-
dent, marketing and sales enablement at Ingenico
Group. Giles has been instrumental in shaping
the company's innovation lab, which he described
as one of his favorite projects.

"Innovation is about pushing the envelope all the
time," Giles said. "And it's like a funnel: you come
up with 100 good ideas; 20 of them make it to the
drawing table; 10 of those become concepts; five
of those concepts get shown to customers, and
one or two of them end up making it—and that's
real innovation."
Another interesting aspect about working in the
Innovation Lab is that one third of participants
have nothing to do with writing code, Giles add-
ed. They're marketing people who are out talk-
ing to the market, talking to the consumer and
talking to the merchant, and getting feedback on
what their expectations are today, tomorrow, next
year, next decade, and where they think it might
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