myPINpad, a provider of multi-factor authentication technology for unsecured touchscreen devices, has today released a topical whitepaper.

 ID&V – A secure and seamless authentication solution at your fingertips looks at the evolution of Identity & Verification (ID&V) tools and the role of PIN verification as a favoured method.

myPINpad’s paper addresses in depth some of the difficulties that card schemes, banks, acquirers and merchants face regarding ID&V; such as rising fraud figures, complaints due to poor consumer usability and compliance with new payments and banking regulations.

A recent Experian survey of a group of senior fraud and risk managers revealed that more than 75%[1] of abandoned transactions were caused by cumbersome identification and verification (ID&V) processes, proving costlier than fraud itself. This statistic prompted myPINpad to delve further into addressing this important issue.

Phil King, CEO of myPINpad, said, “With soaring fraud figures and consumers increasingly adopting mobile payment technologies, there has never been a greater need for a rationalisation of ID&V. Even though many innovative authentication solutions are being proposed, most are much less convenient than they seem for consumers.”


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“The reality is, a smooth identity verification process is an essential part of successful customer interaction online. This should take place in a manner that inspires trust and minimal consumer disruption, that empowers consumers and gives them peace of mind. A universal standard for ID&V would bring drastic improvements in data security and help resolve a range of regulatory and fraud issues.”

Exploring the evolution of ID&V methods, the whitepaper provides a unique overview of the current industry situation, addressing issues such as chargebacks, biometric authentication, fraud and abandonment in e-commerce, m-commerce and banking.  It puts forward the use of PIN, a solution that is familiar, convenient, simple to use and easy to implement, as an ID&V tool, highlighting how it offers the consumer greater control over transactions and, more importantly, increased security and convenience.

The full report is available for download by clicking here.