‘PIN on Mobile’ (PoM, also known as ‘PIN on Glass’) is the latest innovation in payment acceptance that is set to revolutionise the Payments industry.
The publication of a new, major Payment Card Industry Security Standards Council (PCI SSC) ‘Software-Based PIN Entry’ standard for PIN on Mobile solutions will enable merchants to accept PIN-based payments entered directly in to consumer off-the-shelf devices (COTS).
The aim of the standard is to securely protect the integrity of a transaction on an unsecured device, such as a smartphone or tablet. The standard is expected to include a specification for isolating and protecting the entry of PIN directly in to COTS devices.
This major development in card acceptance comes in response to the growing demand for in-store smartphone and tablet based payment authentication. It is designed to help facilitate the huge predicted growth of merchant card acceptance points and global card transactions volumes, particularly in under developed economies and for SME merchants.
A provider of PoM security is MYPINPAD. The company’s PIN Entry Solution (MPES) for mPOS is a software-based PIN pad solution enables the secure entry of the cardholder PIN on the merchant’s mobile device, as an alternative to traditional hardware-based solutions.
Publication of the standard is expected in December 2017, and will create a baseline for industry compliance, whilst helping to protect consumers. COTS devices will soon be deployed globally as smartphone and tablet based card acceptance moves to mass international adoption.