“P2PE represents a significant breakthrough for the enterprise mobile payments market,” says David Gudjonsson, CEO and co-founder of Handpoint. “We have utilised P2PE to overcome the barriers that have prevented enterprise retailers in Europe from embracing mobile payments; namely concerns over security, compliance and integration. Handpoint’s PCI-accredited MPOS application reduces the burden on enterprise retailers to gain individual PCI accreditation, in terms of cost and time, and represents the most secure way to introduce Mobile Point-Of-Sale.”
This is an important step towards a change in the way enterprise retailers comply with PCI standards. Enterprises will soon be able complete a simple self-assessment form – in the same way as small and micro merchants – rather than undergo regular security certification audits. This new approach to compliance represents a significant saving for enterprises; eliminating the need for costly PCI accreditation and annual auditing.
As the demand for immediate payments implementation grows in the United States, Iliad Solutions have identified one of the largest risks to face the payments industry over the next few years.
Barclays has signed contracts with six of the fintech startups that just graduated from its second New York accelerator programme.
Company card killer Pleo has raised $3m in new funding as it prepares for public launch in the UK and Denmark.
Cheques are become less and less common in the UK according to new research from global market research firm Mintel which claims contactless card use has overtaken cheque payments in the UK for the first time.