Certification strengthens charge card approval safety on tablets and smartphones also helps build confidence in new technologies which enables retailers to forego conventional payment terminals.
NORTHBROOK, Ill., July 29, 2020 /PRNewswire/ — UL, a top worldwide security science firm, today declared that MYPINPAD, a supplier of secure personal authentication for repayment alternatives on tablets and smartphones, is the first company internationally to become certified into the Payment Card Industry (PCI) Safety Standards Council’s Contactless Payments on COTS (CPoC™) Safety and Testing Requirements because of its MYPINPAD SoftPOS alternative.
A set of rules and prerequisites for a cellular payment-contactless acceptance alternative, CPoC Security and Test Prerequisites offer a security framework to safeguard the confidentiality and integrity of sensitive payment data recorded and processed in CPoC solutions. MYPINPAD SoftPOS facilitates contactless chip-based payments utilizing the near-field communication (NFC) port of shared business off-the-shelf (COTS) devices, like a tablets or tablets. Designed to permit retailers payment approval flexibility, MYPINPAD SoftPOS addresses online based contactless chip-based trades that further empowers merchant approval.
CPoC certificate implies that MYPINPAD SoftPOS meets crucial security conditions that help to ensure the safety of the payment information accessed via the NFC port and contactless kernel on the COTS apparatus. These safety mechanisms, controls and mitigations shield the customer’s account information and other resources, for example cryptographic keys, helping to make sure the payment method is protected even when done on consumer quality devices like cellular phones.
Based on Colin Greene, CEO, MYPINPAD, the CPoC certificate offers market confidence in MYPINPAD’s technology. “We’re very enthusiastic about our cooperation with UL. Using its extensive expertise in the payments sector, UL has aided MYPINPAD drive confidence with both partners and clients also paved the way for important adoption of a disruptive technology with the capability to change indefinitely card payment trade strategies,” said Greene.
Presently, retailers can take card payment by means of a dedicated credit card terminal, or procedure payment via hardware subscribers that could transfer magnetic stripe information to a payment program running on a PC or mobile device. MYPINPAD SoftPOS permits the retailer to completely bypass both alternatives and run a contactless trade on a smartphone or tablet computer with no external hardware.
Isabelle Noblanc, vice president and general director, UL’s Identity Management and Security branch, stated, “Businesses developing clever and secure payment methods that electricity successful companies and brands need to innovate with safety directing the way. That is the reason why, as the major security and safety ability, UL applauds MYPINPAD for attaining the first-ever certificate for PCI’s CPoC requirements. This landmark helps ensure MYPINPAD compliance and further shows how UL is improving payment ecosystem security.”
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