Leading payment specialists, Thyron Systems Ltd, today announced that it has received PCI PTS Secure Reading and Exchange Data (SRED) Approval for its new and innovative PosMate Smart PIN Pad.
This approval breaks new ground as the Posmate Smart, which utilises Bluetooth technology to pair with a host of smart devices (iOS, Android or Blackberry), exists purely to facilitate the secure processing of EMV Chip and PIN and/or Magnetic Stripe payments.
James Hall, Commercial Director at Thyron Systems Ltd commented that 'whilst the m-commerce market is extremely innovative, we decided not to compromise on security by developing a device that can satisfy the highest level of PCI Compliance. Building on card holder confidence we also retained the traditional form factor of a recognised & accepted secure payment terminal'.
By simply pairing with a Smart device, the PosMate Smart is a robust stand-alone PIN pad that facilitates point-to-point encryption, removing any risks associated with placing an 'all important business and lifestyle' tool in the hands of an often unknown 3rd Party
Hall further comments: 'With the growth of m-commerce predicted to reach $670bn by 2015, there is a real challenge where global commitment to card holder security varies from region to region. We believe the SRED approved PosMate Smart will be welcomed by Schemes, Acquirers, Merchants & Card Holders who wish to uphold the standards required to protect them against any potential breach of security'.
By utilising secure Bluetooth technology, the PosMate Smart protects users from the constant changes in Smart device form factors, upgrades & interfaces.
The SRED set of PCI requirements is one of the evaluation modules of PCI PTS 3.1. It builds on existing requirements for increased security and expands the scope of the PCI PTS compliance by incorporating three new evaluation modules. The three modules call for open protocols, integration and secure reading and exchange of data. SRED provides a vital first step towards point-to-point encryption (P2PE) by enabling cardholder data to be secured and protected after it is read by a PCI PTS device.