What Is Next for Payments in 2019?

Last week’s blog focused on some of the stand-out payments events from 2018. This time, we’re future gazing and looking at some of the payment trends which we might see this year.

The implementation of PSD2

Multi-factor authentication has hit the top of the payments industry agenda over the last year thanks to PSD2 and the drive to create a common standard for online payment security. The official deadline for complying with the Regulatory Technical Standard is 14th September 2019. As a result of the implementation, traditional banks are being forced to share customers’ data and will therefore no longer be considered a one-stop-shop for managing money.

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Relationship Status: Committed to PIN on Mobile

One year on from the PIN on Mobile Event

This week, while the rest of the world celebrated Valentine’s Day, we marked the first anniversary since our PIN on Mobile event.

A whole year has flown by since we proclaimed our love for the technology. On February 14th 2018, the event was hosted with PCI SSC and Consult Hyperion at Level 39 to raise awareness of PCI’s new SPoC standard and explored its impact on the retail and payments industry.

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Reflecting on the stand-out payments events from 2018

2018 was a tumultuous year for the UK payments industry, with new regulations such as PSD2 driving innovation and changing the way we pay for goods and services. We look back on some of the most significant payments highlights from last year.

Introduction of the PCI standard

The key development of the last year was the introduction of the new standard from the Payment Card Industry Security Standards Council (PCI SSC) for Software-Based PIN Entry on COTS (SPoC). With this in place, the path is now open for Consumer-off-the-Shelf (COTS) devices to be harnessed by the payments industry, as a cost-effective and secure alternative to the traditional single-purpose payment terminal to further increase card acceptance points around the world.

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Exploring the future of POS with our new Head of Marketing

Marketing the Next Generation of POS

Last month, we welcomed Nigel Dean, as our new Head of Marketing. Nigel has over 30 years’ experience in the payments and automotive industries and has previously held senior level positions at market-leading point-of-sale providers including Racal, Thales and Spire Payments.

Throughout his impressive career he has been involved in propagating pivotal payment technologies – such as remote terminal deployment and management, traditional POS, mPOS, SmartPOS, and most recently the mobile ecosystem leveraging secure consumer authentication on Consumer off the shelf (COTS) smart devices.

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MYPINPAD Appoints Nigel Dean to Head Marketing Team

London, January 23 2019: MYPINPAD, the global leader in payment acceptance and customer authentication solutions, has welcomed experienced payment industry professional, Nigel Dean, as its new Head of Marketing.

Nigel has over 30 years’ experience in the payments and automotive industries working across multiple disciplines including engineering, product management, marketing, and sales. He has previously held senior level positions at market-leading point-of-sale providers, including Racal, Thales and Spire Payments.

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How 2018 put MYPINPAD in great shape for the next 12 months

2018 was a pivotal year for MYPINPAD – a year that helped shape the company and lead us to become the global leader in payment acceptance and authentication software solutions. Over the last 12 months we have seen success in various ways; game-changing industry regulations coming into practice, piloting our innovative PIN on Mobile (PoM) technology with global brands, and the announcement of our £15million funding success.

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MYPINPAD’s PIN on Mobile Technology to be Piloted in Poland

Mastercard and eService begin testing new technology, where a smartphone can act as payment terminal

Warsaw, December 20, 2018: MYPINPAD, the global leader in payment acceptance and customer authentication solutions, is delighted that Mastercard and eService have announced a pilot implementation of the LitePOS solution enabling smartphones, developed by Ingenico and featuring MYPINPAD technology,  to fulfil the functions that have been so far reserved for payment terminals. LitePOS operates based on the innovative “PIN on Mobile” technology. The combination of a smartphone and a Secure Card Reader makes it possible to safely accept card payments in the amounts exceeding PLN 50, which requires entering the PIN code. This is the first such an implementation on the Polish market, and one of the first three in Europe. Several hundred eService customers can participate in the pilot, which will last until June 2019.

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CARDIFF-BORN TECHNOLOGY COMPANY EYES WELSH TALENT

Founder of MYPINPAD, Justin Pike, announces plans to attract more tech talent in Cardiff’s answer to Silicon Valley  

Cardiff: November 21, 2018; MYPINPAD, the global leader in payment acceptance and customer authentication solutions, has announced plans to grow its workforce in the heart of Wales’ burgeoning tech sector, with vacancies for highly skilled Android, iOS, Operations and Services Developers and Technical Sales Support Consultants.

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LICENTIA/MYPINPAD Closes £15m (USD$20m) Series B Funding

Successful Series B to facilitate global expansion

22 October 2018, London, technology services and IP licensing company Licentia Group Ltd (LICENTIA), today confirmed it has closed a £15million (USD$20m) Series B investment round, facilitated by the Company’s long-time advisor Asia Principal Capital.

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MYHSM LAUNCHES NEW HSM AS A SERVICE

MYHSM Ltd, a sister company to MYPINPAD Ltd, launches new HSM-as-a-service, providing the payment card industry a hosted HSM alternative benefiting both established organisations and the FinTech sector

Cardiff, UK – October 19, 2018 – MYHSM announces the first dedicated payments hardware security module (HSM) hosted service using Thales payShield HSMs. MYHSM enables merchants, acquirers, Payment Service Providers (PSP), Payment Facilitators (PayFac), and issuers, to utilise security as a service to simplify operations as well as leverage cloud services while focusing on improving the consumer digital payment experience.

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