Press Release 13 June 2014
Forensic Investigation of MYPINPAD Authentication Platform Supports Security Credentials.
MYPINPAD enables retailers to Engage, Enrich and Endorse customers in a secure, frictionless, and convenient manner.
An industry leader in the field of Mobile Application Security and Forensics recently undertook a thorough investigation and review of the MYPINPAD solution. MYPINPAD,(mPP) provides a transformational authentication platform. The company performed an Application Penetration Test of the MYPINPAD application running on the Android platform. The objective was to gauge the resiliency of the application in various attack scenarios launched against both authenticated and unauthenticated surfaces. Android was selected over other major mobile OS as it is generally held to be more “open”.
To quantify the output of the testing the laboratory allocated scoring based on the Common Criteria Metrics. This involves calculating the elapsed time, expertise, knowledge of target, access to target and equipment and parts that would be required in order to perpetrate an attack.
They tested the MYPINPAD solution in three common and typical scenarios where PINs are generally considered most vulnerable. These included public hotspot networks and encompassed individual attack and distributed malware based attack scenarios.
The results confirmed that it would be “extremely difficult” for any attack to compromise the MYPINPAD security. Justin Pike CTO at MYPINPAD said “This is a very satisfying outcome. To receive such a high security rating validates our platform for the various use cases we are developing.”
MYPINPAD is currently being piloted in a number of different use cases. These include;
Digital and Face to Face Transaction Authentication
Mobile PIN selection, issuance and change for cards and eWallets
PIN Authenticated Mobile (Card-less) ATM withdrawal
David Poole, Business Development Director for MYPINPAD stated “We are delighted with the positive result of this report. Prepared by an undisputable industry leading expert with extensive experience in mobile security, it validates that MYPINPAD authentication platform facilitates consumers to securely use their PIN’s on their mobile and tablets with confidence.” This means that each consumer with a smartphone is, in effect, carrying their personal PED which can now be integrated with the transaction or banking application. This brings a host of data, security and financial benefits to all stakeholders. Integration with low friction shopping app’s, geo-metrics, and loyalty data engines engages, enriches and endorses the shopping experience for customers and merchants.
The report is available to qualified recipients and under NDA. Please contact MYPINPAD for further information.
About MYPINPAD Ltd
MYPINPAD is designed specifically to secure digital commerce transactions irrespective of their origin. This transformational ‘authentication as a service’ platform is now available globally for the payments industry. It enables transactions on unsecured electronic devices such as mobile phones, tablets and personal computers to be managed and processed in a secure manner without disrupting existing protocols.
Through enabling direct PIN entry the solution facilitates improved security, reduced risk and fraud, improved convenience and through changing the economics of the transaction improves the return on investment for issuers and acquirers, processors, schemes, merchants and networks.
For further information please contact:
Tel: +44 (0)29 2067 4437