iVeri Technology launches mobile Chip & Pin solution

New mobile Chip & Pin solution

Transaction technology providers, iVeri Payment Technologies is launching a new mobile Chip & Pin solution that allows processing of major credit cards as well as local debit card schemes (view press release).

The new service called mPress enables payment acceptance using a smartphone or tablet app and comes with a secure PIN entry device, for both EMV Chip and magnetic stripe cards. mPress, which has been developed in partnership with payments solutions company TouchPoint Payments and software firm TallOrder Solutions, uses a PIN entry device that is PCI-PTS certified and reads both EMV chip and magnetic stripe of the credit or debit card. Using point-to-point encryption, payment data is encrypted directly on the Chip & PIN device and is only decrypted in iVeri’s certified PCI-DSS Level One environment.

“Transactions need to go mobile to stay relevant and meet the expectations of the market, and mobile transactions need to be Chip & Pin in order to give Regulators, Acquirers and Merchants peace of mind over the security,” said Barry Coetzee, CEO of iVeri. “With the release of mPress we can provide small, new and mobile merchants with a relevant product that meets the highest security requirements.”

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