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In our 5 minutes with profiles, MEF members talk about their business, their aspirations for the future and the wider mobile industry. This week David Poole introduces mobile authentication solution specialist MYPINPAD.

What does MYPINPAD do?

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 authentication 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.

When did you launch and what growth have you seen:

MYPINPAD was established in 2012 and has grown into a global technology Company with offices in London, Cardiff, Hong Kong and Jakarta.

What are your main goals?

Our aim is to secure any sensitive data entered into any mobile device. We want the world to know that you can now enter your PIN number and / or FIDO biometric credentials into a mobile device securely to authenticate a transaction, log-in to accounts and on-board/register securely and efficiently.

mmdWhere do you see MYPINPAD in 3 years’ time?

In 2020 we expect to be established as the world leaders in mobile identity authentication and at the forefront of secure data entry innovation. With ‘PIN on Mobile’ about to be thrust into the public domain we aim to be the go to Company for banks, acquirers, merchants and PSP’s who are looking for the most secure and innovative way to accept both in-store and online payments. Although some Companies may allow for the entry of data, PINs and biometrics in to mobile devices, MYPNIPAD is the only Company who can secure this process – our patented solutions enable bank grade, multi-factor authentication.

What aspect of mobile is most exciting to you right now?

The PCI Security Council has announced that it intends to publish a standard for entering, managing and processing card PIN into mobile devices (PIN on Mobile or PoM).

This decision, driven largely by the ambition to increase electronic payments acceptance by reducing barriers to entry is very welcome. By turning smartphones into acceptance devices and reducing the solution cost a significant barrier to entry for merchants is removed and will enable SME’s to accept more electronic payment. Doubling the number of places you can use a card will dramatically reduce the use of cash.

Mobile payment technology is evolving at a rapid pace. There are challenges for the mobile and payments industry to find the right balance between providing a seamless user-experience and meeting security requirements when making a financial transaction. The ability for consumers to enter their card PIN directly and securely into their mobile devices represents a major innovative shift in online and mobile payments – one that enhances the user experience and helps meet PSD2 and EBA Secure Consumer Authentication requirements.

PIN is a universally trusted and accepted form of authentication that offers a level of security consumers feel comfortable with. It has years of education behind it, driven by the banks and schemes who still prefer this method of authentication.

Vodaphone’s recently announced partnership with Square serves to demonstrate the value of bundling additional business solution applications with smartphone offerings.

What is the most critical issue that will hit mobile within the next 12 months?

The introduction of PIN on Mobile and the secure entry of PIN / Biometrics into mobile devices will be the most significant impact upon mobile payments next year.

Apart from your own, which mobile companies are the ones to watch in the years ahead?

Square is a business whose radical approach is catching people’s imagination.  PayPal has a long history of innovating in the space. Revolut’s cool combination of card and app mark it as one to watch. Ultimately Visa and MasterCard will decide what their networks support.

David Poole

Business Development Director


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