PIN on mobile set to revolutionise the payments industry, says MYPINPAD

MYPINPAD, a global leader in payments software authentication solutions, today released its eBook highlighting the Company’s capability to service the emerging PIN on Mobile (PoM) market. PoM is the latest innovation in payment acceptance for in-store transactions and is set to revolutionise the industry.

In recent years, mPOS solutions have evolved from low-tech, low-cost swipe devices, to devices that closely resemble traditional POS terminals with mandated support for EMV and PIN authentication to combat rising fraud levels. This however, has introduced significant costs, almost to the point that mPOS card acceptance solutions are no long affordable for many small and independent merchants.

Global Head of Mobile POS Solutions at MYPINPAD, David Poole explains: “Many consumers have abandoned cash in favour of card and mobile payments, but not all retailers have the ability to accept card payments efficiently due to the capital outlay of mPOS terminals. It is estimated that around half of the UK’s 5.4 million SME merchants do not accept card payments at all. On a global basis the impact is even more profound. For example, digital payments in India are forecasted to grow 10x to €500bn by 2020 [1].  More than ever, retailers need access to a cost-effective solution that will enable them to accept every sale whilst enriching the in-store experience for their customers.

Poole adds: “Mobile and tablet based payment solutions present many advantages for retailers, both operationally and financially. Research shows that by 2021, 20% of all retail transactions will be made on smartphone and tablet-based mPOS, and one third of all POS devices will be mobile.”

PoM enables the secure entry of card PIN in to smartphones and tablets as an alternative to traditional hardware based terminals, removing the need for a hardware based PIN pad. This allows Payment Service Providers and Acquirers to market low cost devices designed to grow the number of global retail acceptance points at an estimated CAGR of 32.84% during the period 2017-2021 [2].

In response to the growing demand for smartphone and tablets based payment authentication, the Payment Card Industry Security Standards Council (PCI SSC) announced in July that it intends to publish a security standard for PIN on Mobile technology that will include a specification for isolating and protecting the entry of PIN in to consumer off the shelf (COTS) devices. Publication is expected later this year. This will create a baseline for industry compliance, whilst helping to protect consumers.

The need for Payment Service Providers to differentiate themselves and remain competitive is becoming more important as the choice of alternative technologies, vendors and service providers continues to grow. It is crucial to offer the most current, future-focused products and services to remain relevant in today’s market; PIN on Mobile has the potential over time to transform the current payments landscape and become the most widespread form of face-to-face payment authentication. Enabling more retailers to accept card payments drives transaction acceptance for Acquirers and Card Schemes, whilst ensuring an appropriate level of security is in place to protect consumers. Accepting card payments has never been easier or cheaper for merchants.” concluded Poole.

To find out more about the arrival of PIN on Mobile, visit MYPINPAD’s site and download the eBook.


MYPINPAD is a technology company with a goal of delivering economic, scalable solutions to meet our clients’ diverse requirements for authentication and identity management. The Company is managed by an alliance of leaders from the payments industry with a collective 100+ years’ experience spanning a wide spectrum of banking, security and payment technology.

MYPINPAD is a global leader in payments software solutions. The patented technology creates a trusted and hardened environment to protect sensitive consumer operations on devices such as smartphones and tablets. Available as an SDK, the solution allows for rapid and simple integration into an Acquirer’s, Issuers or PSP’s existing technology stack, enabling bank grade, multifactor authentication through the use of card PIN and FIDO Biometric credentials for financial transactions, secure sign-in and consumer on-boarding.

[1] Digital payments 2020 – The Making of a $500bn ecosystem in India – BCG / Google – July 2016’