Press Release Summary:
Certified byÂ PCI SSC, Handpoint P2PE Mobile Point-Of-Sale (MPOS) application enables merchants to securely accept Chip and PIN card paymentsÂ throughÂ mobile device. No payment card data is stored in retailer's systems,Â maintaining security levels and minimizing risk of fraud or data-loss. Application sits on EMV I+II and PCI-PTS v.3x (SRED) accredited card reader, not on smartphone/tablet; immediately encrypts card data on card reader; and transmits it via Handpoint's PCI-compliant Gateway.
Original Press Release:
Handpoint is World's First PCI-Accredited P2PE Mobile POS Application
CAMBRIDGE, England -- Handpoint, the mobile payments company, is the world's first provider of Mobile Point-Of-Sale (MPOS) solutions to have a P2PE application certified by the PCI Security Standards Council (PCI SSC).
Handpoint MPOS offers any merchant, from market traders to multinational retailers, a simple and secure way to accept Chip and PIN card payments with a mobile device. Following months of independent testing and auditing, Handpoint's MPOS application has been PCI P2PE certified.
"P2PE represents a significant breakthrough for the enterprise mobile payments market," says David Gudjonsson, CEO and co-founder of Handpoint. "We have utilised P2PE to overcome the barriers that have prevented enterprise retailers in Europe from embracing mobile payments; namely concerns over security, compliance and integration. Handpoint's PCI-accredited MPOS application reduces the burden on enterprise retailers to gain individual PCI accreditation, in terms of cost and time, and represents the most secure way to introduce Mobile Point-Of-Sale."
This is an important step towards a change in the way enterprise retailers comply with PCI standards. Enterprises will soon be able complete a simple self-assessment form - in the same way as small and micro merchants - rather than undergo regular security certification audits. This new approach to compliance represents a significant saving for enterprises; eliminating the need for costly PCI accreditation and annual auditing.
P2PE means that no payment card data is stored in retailer's own systems ensuring that security-levels are maintained and any risk of fraud or data-loss is minimised. The PCI-certified P2PE application sits on the EMV I+II and PCI-PTS v.3x (SRED) accredited Handpoint card reader, and not on a smartphone or tablet. The system immediately encrypts card data on the card reader and transmits it via Handpoint's PCI-compliant Gateway. This architecture takes the smartphone or tablet payment application out of scope for further certifications.
Colin Whittaker, Vice President, Visa Europe said, "Mobile POS is an exciting new sector with huge potential for customers and small and large businesses. The secure management of payment data is critical for its success, which is why we require our partners to comply with PCI. Solutions like Handpoint's help make PCI compliance achievable for a wider range of retailers. We welcome the validation of Handpoint's application as an important step on the road to delivering point to point encryption solutions, which can give customers and merchants security and peace of mind. We will continue to work with trusted partners and vendors to drive MPOS forward in the future."
David Gudjonsson continues, "Processing card payments on smartphones and tablets themselves is simply not secure enough for the enterprise market. P2PE enables us to provide a robust mobile payment solution, on PC and on mobile, in complex and demanding enterprise retail environments."
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For more information, please visit http://www.handpoint.com and http://www.foregenix.com
Media enquiries: Laura Snipe, Nelson Bostock Communications