Page 28 - GS210401

CoverStory

tance, the PCI SSC published new security standards in PAD and Bluefin both offer subscription service models to
2019: Software-based PIN entry on Contactless Solutions small and midsize enterprise (SME) clients.
(SPoC) and Contactless Payments on Contactless Solutions Enterprises and banks integrate MYPINPAD into their
(CPoC). The difference between the two contactless stan- mobile apps, Pike noted. Consumers and card issuers use
dards is that SPoC pertains to PIN entry and CPoC uses MYPINPAD for secure PIN management inside mobile
near-field communication technology without PIN entry apps. The company offers a fixed per-transaction model to
on any commercial off-the-shelf device, Leach stated. SMEs, which is delivered as a service, he added.

Justin Pike is founder and chairman of MYPINPAD, a "Business customers use the app for payment acceptance,"
global provider of secure personal authentication solu- Pike said. "And for the first time ever, consumers can man-
tions for commercially available smartphones and tablets. age their own PIN inside their mobile apps in a compli-
The company's Android software based CPoC solution ant manner; for example, a consumer can change the PIN
was PCI CPoC certified in July 2020, a global first, and on their payment card without having to visit an ATM or
from Pike's perspective, a game-changer for online pay- branch. Furthermore, the solution also enables seamless
ments. onboarding to the mobile banking app, removing the need
[for card issuers] to send one-time PINs in the post."
"By shifting payments from a fixed piece of hardware,
which in many retail situations causes a bottleneck, to a Miles noted that with Bluefin's SaaS model merchants are
mobile device like a smartphone or tablet, you then open not paying rental and storage fees for encrypted data they
up a world of new possibilities for the merchant to inno- may never use. "In addition to being more economically
vate within their end-to-end customer experience," Pike and commercially feasible, it's leveraging the same en-
said. "And therefore, these experiences can be driven even cryption technology," he said. "That's why it's called vault-
more by what the consumer wants and by meeting their less tokenization, but it's really encryption as a service."
individual needs."
Dale S. Laszig, senior staff writer at The Green Sheet and managing
Extending market reach director at DSL Direct LLC, is a payments industry journalist and content
strategist. She can be reached at dale@dsldirectllc.com and on Twitter
Having worked for years with enterprise clients, MYPIN- at @DSLdirect.

TouchSuite

Wants To Buy

Your Portfolios!

We are one of the most active portfolio

buyers in the market and we close

For a complimentary valuation, please

call our dedicated team or email us at
acquisitions@touchsuite.com

touchsuite.com
(844) 453-8422