VISA and First Data announced that they are currently performing internal tests of the so-called PIN on Mobile technology. PIN on Mobile allows merchants to accept contactless card transactions using a mobile application installed on selected smartphone models. What’s crucial, this technology applies to all transactions, regardless of their value. If PIN authorization is required, the cardholder can enter it on the screen of the merchant’s smartphone.
According to the press information, after internal testing is finalized, the PIN on Mobile solution will be pilot implemented in Poland as the first market in the world.
Where technology is developing fast, the regulation not always follows. Let’s remind - on December 4th 2019 the PCI Security Standards Council has published the long-awaited security standards for soft POS transactions (so also for PIN on Mobile). Unfortunately, the new standards do not allow for PIN authorization on soft POS devices. It seems that however, the situation might change soon as the biggest market players are making their move.