MineSec accelerates the development of Tap to Phone payment solutions with Visa certification
7 September 2021 - MineSec announced its compliance with the Visa Ready Tap to Phone Kernel Specification (VRTPKS) for its SoftPOS solution. MineSec SoftPOS Software Development Kit (SDK) fulfilled Visa requirements in functional tests conducted by BV ICTK, a Visa-recognised laboratory. With this certification, payment service providers can now build SoftPOS payment solutions in line with Visa specifications by utilising the MineSec SoftPOS SDK.
From coffee to cabs, consumers increasingly choose mobile payments for goods and services. PwC estimates that cashless transactions will more than double by 2030, from $1,036 billion in 2020 to $3,026 billion in 2030. Tap to Phone is one of the most popular contactless payment methods available. Customers can pay via their mobile devices by tapping their card of mobile wallet. By transforming their payment processes, merchants can attract customers and increase sales as payments shift from cash to digital. Instead of traditional point-of-sale hardware, merchants can set up cashless transactions with SoftPOS solutions on Near-Field Communication (NFC) Android devices.
"By putting MineSec SoftPOS SDK through Visa certification, we make it easy for payment service providers and developers to integrate Tap to Phone functionality without doing the hard work," says Angus Chiu, Chief Commercial Officer of MineSec. "As a result, our customers can leverage MineSec SoftPOS SDK's existing Visa certification and focus instead on building product features."
"Compliance in financial services is evolving as technology transforms the way people send and receive payments. Leveraging our expertise, we help companies such as MineSec build compliant payment solutions with rigorous testing," says Bongjae Jin, Technical Director of BV ICTK. "MineSec SoftPOS SDK demonstrates Visa Ready Tap to Phone Kernel Specification compliance, providing confidence to payment service providers to build SoftPOS payment solutions on the SDK with proven Tap to Phone functionality."
Bureau Veritas ICTK Co., Ltd. (BV ICTK) is a global testing service laboratory with nearly two decades of experience developing customised testing solutions. As an international testing laboratory and consultant, BV ICTK has served over 200 clients worldwide, including the world's biggest manufacturers, banks, and government agencies and has worked in the payments, mobile, value-added networks, and transportation industries. BV ICTK is dedicated to providing the best testing services for your needs, thereby contributing to product stability and interoperability.
MineSec helps their customers to drive innovations in secure and seamless contactless payment solution 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.