mPOS solution unveiled by MYPINPAD

MYPINPAD has developed a software-based contactless payment solution, which aims to remove the need for additional mPOS hardware.

The initiative is a variation of the company’s MPP SoftPOS solution suite, and it has been aligned to PCI’s Contactless Payments on COTS (CPoC) standard that is meant to be released at the end of 2019. The CPoC solution utilises the MPP Authentication Platform to ensure that the smart mobile device is secure prior to transaction commencement. The same platform is used for all MYPINPAD’s PIN on mobile solutions, such as its SPoC offering, MPP mPOS.

Via the MPP SoftPOS everyday Android smartphone or tablet are transformed into a secure payment acceptance point for contactless transactions, without the need of a Secure Card Reader. As such, the merchant enters the amount on their smartphone or tablet (running the MPP CPoC App), while the customer initiates payment by tapping their contactless debit or credit card onto the smart device. Moreover, the transaction processing is routed through the MPP Authentication Platform in order to connect with the payments network. This is done to deliver an authorisation message to the PSP.