Visa invests in MagicCube to facilitate the acceptance of secure payment transactions

Tuesday 25 August 2020 12:46 CET | News

MagicCube has recieved an investment from Visa to facilitate the acceptance of secure payment transactions for merchants and consumers.

According to the press release, as part of the investment, MagicCube and Visa will look to further their partnership by exploring new use cases in the payments industry, like ‘Tap to Phone’, where the platform can bring next generation security, operability, and ease of integration.

Moreover, MagicCube's products enable consumer devices to read contactless cards from Visa and from all other major card brands, while securely capturing financial PIN and other verification methods, including biometrics. The solution provides end-to-end functionality and security, which was previously limited to hardware-based terminals. 

The entirely software-based solution offers a plug-and-play, fully contained module that can fit into the current flows of any modern acquiring bank or merchant acceptance solution.

Furthermore, MagicCube aims to serve financial institutions and offer them a hardware-grade protection that enables consumers to use apps that are secured by MagicCube to accept point-of-sale payments.

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Keywords: MagicCube, investment, Visa, secure payment transactions, merchants, Tap to Phone, security, contactless cards, PIN, biometrics, terminals, financial institutions, point-of-sale
Categories: Fraud & Financial Crime
Countries: World
This article is part of category

Fraud & Financial Crime