MyPINpad gets PCI certification for PIN entry on iOS
Payments security firm MyPINpad has received certification from the Payment Card Industry Security Standards Council for its software-based PIN entry on Apple mobile and tablet devices.
For the past six years, the London-based fintech has developed the ability for PIN payments online and kept working to deploy the technology for everyday smartphones and tablets to replace POS terminals and PIN entry on mobile POS devices.
MyPINpad views the PCI approval involving commercial off-the-shelf products as a way for a massive global expansion of payment acceptance devices to unfold. The solution is easily integrated into third-party applications and delivered "as a service."
"MyPINpad has been at the forefront of the thinking about the development of PIN on Mobile since 2012," Phil King, CEO and chairman of MyPINpad said in a Tuesday press release.
The certification will allow for a standard, non-scrambled PIN pad on iOS devices that "consumers trust and are familiar with," King said. "We look forward to announcing the same for Android devices soon."
The company has viewed the cost of hardware-based PIN pads as a significant barrier to global card acceptance adoption. The PIN on Mobile solution will enable the smallest enterprises and those in under-served markets to accept payment cards, while also relieving merchants and larger retailers from the burden of purchasing and maintaining large numbers of traditional POS terminals, the company stated.