PR84958

NORTHBROOK, Illinois, July 30, 2020 /PRNewswire=KYODO JBN/ --

- Certification strengthens credit card acceptance security on smartphones and

tablets and helps build trust in new technology that allows merchants to forego

traditional payment terminals.

UL, a leading global safety science company, today announced that MYPINPAD, a

provider of secure personal authentication for payment solutions on smartphones

and tablets, is the first company globally to be certified to the Payment Card

Industry (PCI) Security Standards Council's Contactless Payments on COTS

(CPoC(TM)) Security and Testing Requirements for its MYPINPAD SoftPOS solution.

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A set of principles and requirements for a mobile payment-contactless

acceptance solution, CPoC Security and Test Requirements provide a security

framework to protect the confidentiality and integrity of sensitive payment

information captured and processed in CPoC solutions. MYPINPAD SoftPOS

facilitates contactless chip-based payments using the near-field communication

(NFC) interface of common commercial off-the-shelf (COTS) devices, such as a

smartphones or tablets. Designed to allow merchants payment acceptance

flexibility, MYPINPAD SoftPOS addresses online based contactless chip-based

transactions that further enables merchant acceptance.

CPoC certification means that MYPINPAD SoftPOS meets key security requirements

that help ensure the security of the payment data obtained through the NFC

interface and contactless kernel on the COTS device. These security mechanisms,

controls and mitigations protect the consumer's account data and other assets,

such as cryptographic keys, helping to ensure the payment process is protected

even when performed on consumer grade devices such as mobile phones.

According to Colin Greene, CEO, MYPINPAD, the CPoC certification provides

marketplace confidence in MYPINPAD's technology. "We are extremely excited

about our collaboration with UL. With its extensive experience in the payments

industry, UL has helped MYPINPAD drive trust with both partners and customers

and paved the way for significant adoption of a disruptive technology that has

the potential to change forever card payment transaction schemes," said Greene.

Currently, merchants can accept card payment via a dedicated credit card

terminal, or process payment through hardware readers that can transfer

magnetic stripe data to a payment application running on a PC or mobile device.

MYPINPAD SoftPOS allows the merchant to completely bypass both options and

conduct a contactless transaction on a smartphone or tablet without any

external hardware.

Isabelle Noblanc, vice president and general manager, UL's Identity Management

and Security division, said, "Companies developing smart and secure payment

systems that power successful businesses and brands must innovate with security

guiding the way.  This is why, as the leading safety and security authority, UL

applauds MYPINPAD for achieving the first-ever certification for PCI's CPoC

requirements. This milestone helps ensure MYPINPAD compliance and further

demonstrates how UL is enhancing payment ecosystem safety."

About UL

UL helps create a better world by applying science to solve safety, security

and sustainability challenges. We empower trust by enabling the safe adoption

of innovative new products and technologies. Everyone at UL shares a passion to

make the world a safer place. All of our work, from independent research and

standards development, to testing and certification, to providing analytical

and digital solutions, helps improve global well-being. Businesses, industries,

governments, regulatory authorities and the public put their trust in us so

they can make smarter decisions. To learn more, visit UL.com

(https://c212.net/c/link/?t=0&l=en&o=2871144-1&h=179486813&u=https%3A%2F%2Fwww.ul.com%2F&a=UL.com ).

To learn more about our nonprofit activities,

visit UL.org (https://c212.net/c/link/?t=0&l=en&o=2871144-1&h=416474150&u=https%3A%2F%2Fwww.ul.org%2F&a=UL.org ).

Press Contact:

Steven Brewster

UL

steven.brewster@ul.com

SOURCE:  UL