21 January 2017
visit http://www.wolterskluwerfs.com

Bindo launches EMV card reader for cloud-based POS system

07 August 2014  |  4082 views  |  0 Source: Bindo

Bindo, a leading retail technology company that aims to close the gap between selling offline and online for retail store owners, today announced the launch of a mobile EMV credit card reader for its cloud-based iPad point-of-sale (POS) system.

This comes in light of the U.S. government’s recent warnings about POS malware and advice from the Department of Homeland Security on implementing EMV-enabled PIN entry devices that have Secure Reading and Exchange of Data (SRED) capabilities.

Bindo’s newly developed EMV reader has full end-to-end encryption with its iPad POS system and is both EMV Level 1 and Level 2 certified in the United States. It slots comfortably into the audiojack of an iPhone or an iPad, and allows mobile credit card payment acceptance. Bindo’s system encrypts and tokenizes cardholder data at the point of capture and its Tamper-Safe security module (TSSM) helps prevent third party brute force attacks. The card reader will continue to support dual and triple track card reading. Others in the industry have announced EMV chip readers. Unlike competitors, however, Bindo’s mobile card reader will be able to process both chip-and-signature cards and chip-and-pin cards, enabling EMV debit card transactions, reducing the need for merchants to carry multiple terminals.

“Security is a top priority at Bindo,” says Brad Lauster, cofounder of Bindo. “It’s the foundation upon which we create our best-in-class user experience. Features mean nothing without a trustworthy base, so every transaction made through Bindo is encrypted. Furthermore, we maintain 100% compliance with PCI Data Security Standards.”

According to Visa, MasterCard, and AMEX, merchants who have invested in EMV deployment, such as Bindo’s solution, will be protected from financial liability for card-present fraud, under the new rules that will come into effect by 2015. However, merchants who don’t meet this standard by October 2015 will be liable for fraudulent purchases during card-present transactions, a factor that will drive store owners to adopt the new standards as soon as possible. This reflects a shift from legacy magnetic-stripe credit cards, to chip-and-signature or chipandpin cards, which are less vulnerable to credit card fraud. Bindo’s development of the iPad POS with integrated mobile EMV reader reflects the company’s commitment to security, while continuing to deliver their best-in-class user experience which has made its solution popular with retail merchants.

Comments: (0)

Comment on this story (membership required)

Related blogs

Create a blog about this story (membership required)
Visit contisgroup.comvisit wavestone.co.uk

Who is commenting?

Top topics

Most viewed Most shared
Banks face big profit loss to digitisation - McKinseyBanks face big profit loss to digitisation...
16636 views comments | 94 tweets | 113 linkedin
Seven banks plan blockchain platform for SMEsSeven banks plan blockchain platform for S...
12980 views comments | 48 tweets | 44 linkedin
Accenture beats Brexit blues with largest-ever London startup programmeAccenture beats Brexit blues with largest-...
11132 views comments | 31 tweets | 20 linkedin
US fintech firms join forces to push data sharing via APIsUS fintech firms join forces to push data...
7473 views comments | 41 tweets | 40 linkedin
HSBC forms tech advisory boardHSBC forms tech advisory board
6586 views comments | 21 tweets | 23 linkedin

Featured job

to Six-Figure Base, Bonus, Benefits
London, UK

Find your next job