LONDON: MYPINPAD, the global leader in secure personal authentication solutions is the first company in the world to achieve Payment Card Industry (PCI) Security Standards Council (SSC) certification for its Android software-based Contactless Payments on Commercial off-the-shelf (CPoC) solution, enabling contactless payments on smart devices.
As the first solution globally certified to accept contactless payments on these devices without requiring additional hardware, this significant step accelerates unparalleled possibilities in customer experience innovation for merchants and other businesses in the payments chain.
Accreditation for MYPINPAD’s contactless payment solution follows the company’s recent PCI SSC SPoC certification for its software only PIN Entry solution for iOS and Android (PIN on mobile), also a global first. The combined capability of tap and PIN on smart mobile devices means a 100 percent software-based payments future. It enables all merchants globally to democratise payments with integrated, scalable digital customer experiences, replacing traditional POS terminals with smart mobile devices.
This announcement is fantastic news for face to face retailers and service providers, creating access to a lower cost, highly secure PCI certified contactless solution. This is especially timely with contactless limits around the world being raised in response to COVID-19, which has seen cash usage reduced by half. With long-term effects of the pandemic uncertain, MYPINPAD is taking steps to help future proof retailers by creating a face-to-face payment system that is more flexible, safer, and available to businesses of all sizes.
MYPINPAD’s goal is to help drive mobile device acceptance exponentially from 100 million currently to over 400 million by 2024.
CEO of MYPINPAD, Colin Greene, commented: “With each new accreditation we get closer to the true democratisation of payment acceptance. This ultimately means more secure digital payment experiences for merchants and consumers worldwide. That’s why we are delighted to be the first company in the world to have achieved PCI certification for our contactless solution, especially after our recent announcement of being the first to achieve PCI accreditation for our PIN-entry software only solution on IOS and Android. By increasing access to lower cost, highly secure and innovative globally certified payment solutions for the industry and our partners, we promote both growth and financial inclusion.”
Blake Rosenthal, Executive Vice President of Acceptance Solutions at Mastercard, adds; “Consumers and merchants are looking for fast, safe, and secure checkout experiences,” “MYPINPAD’s PCI accreditation is a key milestone to the growth, diversification, and scale of contactless payment solutions, increasing speed at checkout and reducing operational costs by eliminating all hardware accessories.”
MYPINPAD’s solution is easily integrated into third party applications and delivered ‘As-a-Service’. It reduces cost across the entire face-to-face payment ecosystem by meeting PCI security standards through software updates alone. This relieves pain-points like the cost of traditional payment and POS hardware for smaller retailers, while serving larger retailers by significantly reducing maintenance, replacement costs of aging hardware-centric POS systems and improving CX with trusted and familiar devices.