Payments company Handpoint has had its point-to-point-encryption (P2PE) application certified by the Payment Card Industry Security Standards Council (PCI SSC) "after months of testing and auditing", the company said.
Handpoint’s mobile solution allows merchants to accept chip and PIN card payments with a mobile device. It uses remote key injection, which eliminates the need for manual activation or upgrades.
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The P2PE application sits on the EMV I+II and PCI-PTS v.3x (SRED) Handpoint card reader, not on a smartphone or tablet. The card data is encrypted on the reader and then transmitted via the PCI-compliant gateway.
The recognition by PCI shows a change in the way enterprise retailers have to fulfil PCI standards. Expensive accreditation and annual auditing is to soon be replaced with a self-assessment form, similar to the ones filled out by micro merchants.
"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," said chief executive and co-founder of Handpoint, David Gudjonsson.
"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," he concluded.
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