Mobile PIN acceptance has been touted as a significant benefit for micromerchants due to its convenience and affordability. As PaymentFacilitator.com recently reported, the concept of mobile PIN acceptance is a huge value-add for merchants outside the U.S. that process less than $50,000 annually.
With the cost and fees already involved in accepting payments, adding a PIN pad and PCI certification often proves impossible for many of them. The recent standard on mobile PIN acceptance initiated by the PCI Council, while fraught with hoops and requirements, opens a world of possibilities for micromerchants.
And now, with a new innovation from Ingenico, it’s clear that companies are starting to respond to this need with solutions. Ingenico has charted a course for PIN on Mobile (PoM) acceptance with technology that enables the consumer to insert their card into a compact smartcard reader and manually enter the PIN on the personal mobile device of the merchant, according to the press release. Also referred to as PIN on Glass (PoG), this technology has the potential to significantly accelerate mobile POS solutions among micromerchants as it offers secure payment acceptance via a more convenient (and affordable) user interface.
Ingenico has partnered with MYPINPAD, a UK payments leader in software authentication solutions, on this new innovation and approval has already been granted by Mastercard and other major card brands. The recently published (in January of this year) PCI security requirements around PoM were anticipated by Ingenico, according to the same release, and the company said it has already received waivers to conduct field tests in several countries that will be launched soon.
In response to Ingenico’s recent innovation, Mastercard Senior VP of Security and Solutions Bruce Rutherford is quoted in the same article: “Digital innovation is happening at a rapid pace, and standards are critical to ensuring the security, consistency of experience and adoption of new technology. It is great to see Ingenico develop a PIN on Glass solution that advances our vision of every device being a secure acceptance device.”
“This PIN on Glass solution will perfectly complement existing Ingenico offers. It will allow our clients to build disruptive business models and extend card acceptance among micro-merchants, with a solution designed for their specific payment needs,” explains Ingenico Executive VP of Banks and Acquirers Business Unit Patrice Le Marre, via the same article.