MineSec today announces a PIN feature for contactless Mastercard and Visa payments in its MineSec SoftPOS Software Development Kit (SDK). Certified by both Visa and MasterCard, the MineSec SoftPOS SDK with Optional PIN meets the card schemes’ requirements, inlcuding Strong Customer Authentication (SCA) mandated in Europe.
SCA applies to all electronic payments including card present contactless payment within the European Economic Area (EEA) as part of the Payment Services Directive (PSD2) to minimise fraud and safeguard financial data. Consumers must enter their PIN for contactless payments that exceed either €50 (or equivalent) per transaction with a cumulative limit of €150 (or equivalent) or five consecutive contactless transactions.
Previously, merchants relied on physical Point of Sale hardware to process credit card transactions and PINs. Merchants can now accept contactless MasterCard and Visa payments with PIN entry on their Android devices through SoftPOS apps that integrate the MineSec SoftPOS SDK.
“With the MineSec SoftPOS SDK, payment service providers and merchants can comply with Strong Customer Authentication requirement for a smooth checkout experience without investing in additional hardware,” says Stone Zhong, Chief Technical Officer of MineSec. “By supporting the use of PIN entry, we minimise contactless fraud for merchants and safeguard financial data, thereby boosting consumer trust in the payment security process.”
MineSec SoftPOS SDK uses PIN on glass technology to automatically generate and scramble the numbers on the PIN pad. It also encrypts the PINs when transmitting them to the issuer for authorising the payment. Therefore, a malicious third-party cannot guess the PIN from the payer's hand movement or look at the marks left on the phone screen.
MineSec helps its customers to drive innovations in secure and seamless contactless payment solutions globally. Their highly experienced and knowledgeable team offers extensive local market and industry expertise to help simplify the complexities of innovation and accelerate time to market. The white-label SoftPOS solution from MineSec provides ease of integration and customisation for various business needs, allowing customers to scale confidently and competitively to meet every market's unique evolving needs.