19 September 2014

Secure Electrans hybrid payment device gets EMV accreditation

17 February 2014  |  1369 views  |  0 Source: Secure Electrans

Secure Electrans are pleased to announce another world first in the payments industry - the latest certification of the unique and revolutionary HomePay Chip&PIN device that combines small retailer mobile payment acceptance and secure online Chip&PIN payments.

This latest development of the Secure Electrans HomePay™ 130 range employs a state of the art "Dynamic Kernel" that is able to switch transparently between taking and making payments.

The result is a low cost, compact, leading edge device that enables the user, for example a taxi driver or plumber, to buy goods online securely with Chip&PIN and then take the device with them to their work or use on the move to accept payments. The same device can also be used for secure Chip&PIN sign-on to remote services such as personal or corporate banking or eGovernment as well as person-to-person or business-to-business payments.

The certification, undertaken by the leading financial industry security evaluation body UL, confirmed that this latest Secure Electrans HomePay™ device meets the rigorous specification of EMVCo. This ensures compatibility with all global EMV Chip&PIN cards from VISA, MasterCard, American Express and other payment schemes. EMVCo is the global technical body that facilitates the worldwide interoperability and acceptance of secure payment transactions by managing and evolving the EMV Specifications and related testing processes.

Secure Electrans' strategy remains focused on capitalizing upon the existing global banking sector investment in Chip&PIN to provide online and mobile payment security. The company has built the end-to-end infrastructure to facilitate this seamless expansion of Chip&PIN acceptance to help overcome the rapidly growing online and mobile payment fraud. A recent 9 month trial of Secure Electrans' online Chip&PIN infrastructure was a resounding success with zero fraud and no merchant chargebacks and commercial deployments are planned for later this year.

Chris Jarman, Chief Executive Officer of Secure Electrans commented: "Once more, HomePay™ has demonstrated its versatility and differentiated itself from other basic products in the marketplace. This accreditation by UL has resulted in a device of great utility value to all users and brings us closer to a position where we can all make and receive secure Chip&PIN payments". Chris added "We are one step further on the path to a common shrunk Chip&PIN component that can be an embedded element in any technology for anyone to anyone anywhere secure transactions. This functionality is unique and a game changer in the payments sector".

Secure Electrans' security and payments innovations are protected by significant international patents in all major territories. 

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