‘PIN on Mobile’ (PoM, also known as ‘PIN on Glass’) is the latest innovation in payment acceptance that is set to revolutionise the Payments industry. The publication of a new, major Payment Card Industry Security Standards Council (PCI SSC) ‘Software-Based PIN Entry’ standard for PIN on Mobile solutions will enable merchants to accept PIN-based payments entered directly in to consumer off-the-shelf devices (COTS).
The aim of the standard is to securely protect the integrity of a transaction on an unsecured device, such as a smartphone or tablet. The standard is expected to include a specification for isolating and protecting the entry of PIN directly in to COTS devices.
This major development in card acceptance comes in response to the growing demand for in-store smartphone and tablet based payment authentication. It is designed to help facilitate the huge predicted growth of merchant card acceptance points and global card transactions volumes, particularly in under developed economies and for SME merchants.
MYPINPAD’s best in class PoM security will be an integral part of one of the first certified PoM solutions for in-store payments. To drive adoption of MYPINPAD’s PoM market offering, enabling the next-generation of mPOS, David Poole, has been appointed as Global Head of Mobile POS Solutions. Poole has 30 years’ experience at the forefront of new POS technologies and payment processes.
MYPINPAD’s PIN Entry Solution (MPES) for mPOS is a software-based PIN pad solution that enables the secure entry of the cardholder PIN on the merchant’s mobile device, as an alternative to traditional hardware-based solutions, removing the need for expensive hardware based PIN pads. MYPINPAD provides a choice of integration alternatives for partners to build PoM solutions and are working with a number of leading Secure Card Reader (SRC) manufacturers to provide a wide range of hardware choices for clients.
David Poole, Global Head of Mobile POS Solutions at MYPINPAD commented: “Despite the abundance of current mPOS solutions available, there is a clear requirement to introduce lower cost acceptance solutions without introducing higher risk. PoM is expected to both transform and grow card acceptance exponentially, particularly for small and medium size retailers but also for established retailers seeking to improve the in-store customer experience and staff productivity. Removing the need for a separate hardware PIN pad allows vendors to produce smaller, lower-cost devices. By reducing the solution cost, a significant barrier to entry for card acceptance by merchants is removed.”
The card payments industry and consumers have long benefited from the successful implementation of PCI SSC standards. The impending standard will provide all stakeholders with a software-based approach for protecting PIN-entry on COTS devices. This method of in-store authentication will undoubtedly transform the payments acceptance landscape.
Publication of the standard is expected in December this year and will create a baseline for industry compliance, whilst helping to protect consumers. COTS devices will soon be deployed globally as smartphone and tablet based card acceptance moves to mass international adoption.