
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.”
Whitepapers
Related reading
Central banks best suited to issue digital currencies
By Aaran Fronda A recent report by the Official Monetary and Financial Institutions Forum (OMFIF) said that central banks rather than private ... read more
Instant payments: innovations inbound for corporates
In 2020, instant payments look set to continue their current trajectory to become the biggest trend in payments. While these schemes already offer numerous benefits to corporates, leveraging innovations such as APIs and request to pay will go some way to unlocking their full potential, argues Michael Knetsch
Obstacles exist for banks to meet ECB’s instant payments goal
The cost of joining instant payment platforms will be one of many hurdles banks and payment services providers must overcome to meet ... read more
Banks must be aware of “biases” in data used to train ML models
Financial institutions need to be conscious of biases in the historical data that is being used to train machine learning (ML) models, ... read more