The MYPINPAD authenticator platform provides a secure enclave for financial institutions to rapidly, yet securely, design and implement Android and iOS payment applications via the MYPINPAD API. The net result is the ability to securely accept PIN entry on commonly available smart devices in an online purchasing environment that is compliant with PCI and scheme regulations.
The Regulatory Technical Standard (RTS) published by the European Banking Authority (EBA) describes the principles of multi-factor authentication but falls short on how this should be implemented. This lack of clarity has the potential to increase costs for service providers and banks who struggle to meet these new regulations. It is this challenge which has triggered the collaboration between MYPINPAD and AimBrain to assist financial institutions to meet Strong Customer Authentication (SCA) requirements in a cost-effective and timely way.
MYPINPAD’s authenticator platform and solution suite has been created to reduce the reliance on binary passwords subject to large scale breaches and largely regarded as no longer adequate for genuine user authentication. The MYPINPAD solution combines all three factors; the user’s phone (possession), their card PIN (knowledge) and now, by collaborating with AimBrain, a facial authentication step (inherence).
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