MYPINPAD, a global leader in payments software authentication solutions, today announced a partnership with Datecs, a leading manufacturer and developer of innovative POS hardware, to deliver a PCI compliant PIN on Mobile (PoM) solution.
PIN on Mobile is a major advance in card payment acceptance technology for in-store transactions and is set to revolutionise the current merchant payments landscape. As an alternative to traditional hardware based terminals, MYPINPAD’s state-of-the-art PoM solution, MPES (MYPINPAD’s PIN Entry Solution), is a software based PIN pad solution that securely enables PIN authentication on consumer off-the-shelf devices (COTS), thus removing the need for a hardware PIN pad.
The technology has been developed to enhance and expand the global mPOS market offering, to create and drive sale volumes for SMEs currently without the means to accept card payments. Merchants of all sizes will be able to accept card payments. It should also promote financial inclusion in under-developed economies.
Under the agreement, MYPINPAD’s MPES technology will be integrated into Datecs’ Secure Card Readers (SCR), to provide merchants with a low cost, PCI compliant PoM payment acceptance solution.
Pencho Iliev, CEO, Datecs, commented: “When the PCI SSC announced that it would be working on a new standard that specifically focuses on software-based PIN-entry on COTS devices, we wanted to demonstrate our innovative industry leadership by becoming one of the first payment device manufacturers to offer a PoM solution for PCI certification.
We are delighted to partner with MYPINPAD; the organisation has been at the vanguard of championing and preparing for PoM and is paving the way in software-based payment authentication. Their knowledge and understanding of the PoM landscape is vital for payment solutions provider adoption, thus helping merchants of all sizes increase their bottom-line.”
Global Head of Mobile POS Solutions at MYPINPAD, David Poole, added: “Through this partnership we will ensure that all merchants across the world can offer a secure card payment solution that aligns with the new PCI standards for PIN on Mobile.
Datecs share our passion for payment innovation and security. Together, we are seeking to provide one of the first PCI approved solutions. By removing high cost barriers to entry for SMEs we expect to assist the exponential increase in the number of global acceptance points over the next five years. In addition, merchants of all sizes can transform their in-store payment experience and drive an increase in their ROI.