UL, a global safety science company, announced that Mosambee, a payment solution company, is the first company in India to have their software-based personal identification number (PIN) entry product, commonly known as PIN on Glass, certified for compliance with the Payment Card Industry (PCI) standard.
PCI allows for contact and contactless card transactions with PIN entry on merchants' mobile devices, such as smartphones and tablets, using a secure PIN entry application. In earlier point of sale (PoS) solutions, the PIN was entered on the payment terminals only. Mosambee's solution supports all payment schemes including RuPay, Visa and Mastercard.
This 'Made in India' solution will be a plug-and-play option for many of the banks and acquirers already connected to Mosambee. Ensuring product compliance following certification may help to fuel opportunities for businesses and institutions to expand and accept payments. It also helps enable small businesses to compete more effectively while enhancing overall customer service.
"The certification strengthens security and builds trust in digital payments acceptance on smartphones and tablets. The PIN on Glass solution allows a merchant to now download an acquirer application from the Android or iOS app stores instead of focusing on hardware terminals. With its rich experience in the payments industry, UL was an instrumental advisor in our commercial off-the-shelf (COTS) device from a concept to product launch," said Sameer Chugh, Co-Founder of Mosambee, while commenting on the certification of the new solution.
A wide network of subject matter experts from various geographies at UL's PCI SSC recognized laboratories performed the PCI Security Standards Council's (SSC) Software-Based PIN Entry on COTS (SPoC) testing requirements for the Mosambee solution.
"We are proud that this certification enables India's vision of a cash-lite society through expansion of payment acceptance infrastructure in India. The PCI certification helps local compes to develop innovative and smart payment devices and build trust in the security of payments. At UL, we continue to focus on building best-in-class testing platforms and compliance solutions to help bring more secure digital payment products to the market," said Suresh Sugavanam, Vice President and Managing Director of South Asia and Sub-Saharan Africa at UL.
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( With inputs from ANI )
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