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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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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Meet the Team – Neal Hindocha

Chief Security Officer (CSO)

The first in our new series, ‘Meet the MYPINPAD Team’ we are delighted to introduce Neal Hindocha who joined us earlier in the year and has a 20-year career background in international IT security, working in research, product development, network security, consulting services and management.

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Once, Twice, Five Times for Safety – Supporting Legislation with Multi-Factor Authentication Solutions

The Cost of Fraud

There’s a disturbing amount of customer money unwittingly handed to fraudsters each year. In 2017 alone, a staggering £240 million was taken from account holders. What’s more, UK Finance has released data highlighting a decline in cash payments by 15 percent over the last year to 13.1 billion – while card payments pulled ahead for the first time ever with 13.2 billion. With these huge sums of missing customer money and card usage skyrocketing, comes more pressure than ever for financial organisations to up their payment security offering at all stages of transactions.

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The Fintech Power 50

MYPINPAD has been nominated for The Fintech Power 50 – an annual Fintech Power list which is comprised of influential and up and coming Fintech businesses all around the world.

The Fintech Power 50 presented by Fintech Finance is an annual guide to the most innovative and powerful figures in the Fintech industry.

Tipped to be recognised higher than other programmes and accolades, it acts as a reminder of all the great things being achieved in the world of financial technology and shines a spotlight on those who are transforming financial services for the better.

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Money 20/20 Europe – What did We Learn?

Last week saw the payments, fintech and financial services communities come together in Amsterdam to discuss the technology and innovation that are set to change the payments landscape. As a technology provider focused on game-changing technology, it seemed an ideal opportunity to discuss our ‘PIN on Mobile’ solutions with a who’s who of fellow innovators.

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Money 20/20 Europe, Amsterdam

The event that ‘brings together the entire financial services industry’ is back next week, and MYPINPAD is heading to Money 20/20 in Amsterdam to discuss how developments in mobile technology has changed payments acceptance forever.

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