London, Barcelona, 13th January 2017 – Marking its presence at Mobile World Congress 2017, MYPINPAD, an enabler of multi-factor authentication for unsecured touchscreen devices such as mobile phones and tablets, will launch an exclusive new whitepaper examining the role and potential of PIN on mobile devices to authenticate transactions.
2017 will see significant growth and adoption of mobile payments. In Europe alone the number of consumers using a mobile device for payments has tripled from 18% to 54% since 2015. The use of PIN to authenticate these transactions on mobiles is imminent.
For bricks and mortar stores, the growth of mobile points of sale (mPOS) to improve customer experience is continuing. Research earlier this year suggests that, by 2021, 20% of all retail transactions will be done on mPOS and that one third of all POS devices will be mobile. The potential of PIN on mobile has never been clearer.
MYPINPAD’s application solutions, that enable authentication on unsecure touch screen devices, for both ecommerce and mPOS transactions, are available now. The consumer’s familiarity with, and trust of, PIN are key to its adoption across the globe as a digital authentication factor as “something you know”. PIN’s combination with other factors delivers a “strong authentication” for the digital era.
Building on MYPINPAD’s own research into consumer attitudes towards transaction trust and authentication methods, the white paper will bring together a compelling and thought provoking analysis of global trends.
The main themes of the white paper include:
- The familiarity and popularity of PIN, meaning that it will remain a preferred authentication method, even in the face of challenger methods such as biometrics and machine learning.
- With mPOS devices predicted to account for 40% of all POS terminals globally by 2021, the growth of PIN on mobile devices is assured.
- While banks and retailers explore biometrics, the power of PIN to provide multifactor authentication is something welcomed by consumers.
David Poole, MYPINPAD Business Development Director said: “Driven by global trends such as the continued rapid growth in global mobile commerce, the PIN is still the go-to method of authentication for mobile devices. Whether it is on a mobile point of sale or for a mobile commerce transaction, the research supports our view that PIN has an important role.”
To receive product sheets and an exclusive copy of the whitepaper and the consumer study please email: firstname.lastname@example.org