New PCI Standard Will Help Grow Global Card Acceptance
Following the PCI Security Standards Council’s new standard for software-based PIN entry into COTS devices, David Poole, Global Head of Mobile POS Devices at MYPINPAD, shares his thoughts.
We are delighted the PCI Security Standards Council has announced a new standard for software-based PIN entry into COTS (Consumer Off-The-Shelf) devices for card payment acceptance. The standard aligns tightly with our goal of increasing merchant card acceptance globally whilst also mitigating risk for both retailer and consumer.
The standard includes a specification for isolating and protecting the card PIN when entered into touchscreen smart-devices (phones and tablets).
Entering cardholder PIN into a mobile device, known as ‘PIN on Mobile’ (PoM), is set to revolutionise the current mPOS landscape by removing the need for expensive dedicated POS terminals. By removing barriers to entry, merchants of all sizes will be able to accept card payments – this is a particularly attractive opportunity for SMEs and under-served economies. COTS devices have the potential to substantially increase the number of card acceptance locations globally.
The standard ensures the payment solution used by merchants has been vetted by a stringent payment security laboratory, resulting in consumer data being protected; entering a card PIN into a smartphone or tablet will be at least as secure as entering it into a traditional terminal.
PoM is a significant development and is poised to radically transform global card payment acceptance in 2018. We forecast PoM will become the most widespread form of face-to-face payment authentication globally. With the introduction of PoM, accepting card payments has never been easier or cheaper for merchants. We believe that this is the biggest evolutionary step for the payments industry in recent years, the introduction of PCI’s Software-Based PIN Entry (SPoC) Standard will make card payments accessible to merchants of all sizes.