Interactive PLAYER SECURITY - MYPINPAD
them 24/7 - the smartphone,” continued Mr. King. myPINpad also links to other movements in the finance world, away from cards to wallets. However, as Mr. King points out, just because you have a digital wallet, doesn’t mean that you don’t need to authenticate who’s using it. “The primary market for myPINpad is banking and financial services, but it’s a solution that perfectly fits into the context of gaming and gambling,” added Mr. King. “We are currently dealing with major global banking brands, debit card schemes etc, who will be the first to benefit from MyPinPad, but that level of integra- tion then rolls out into gaming, travel, services and health.”
The concept is brand new, but myPINpad is looking to secure its first client by year end, with a major announcement that will propel its sales cycles thanks to a proven reference site. “We have taken a very patient approach, “ stated Mr. King. “The process has taken over two years, whereby we have been talking with banks and regulators to understand their view- points and the standards to which we must comply. We have also gone through rigorous penetration tests by industry trusted third-parties, with verifications of the technology establishing its credentials to the highest levels.”
The concept of myPINpad was born nearly three years ago and having gone through proof of concept in its first year, myPINpad has spent the remaining time meeting with various industry bodies to implement all the changes they required, building upon the technology through independent testing and verification. Designed specifically to secure digital commerce transactions irrespective of their origin, myPINpad enables secure authentication of transactions on mobile phones, tablets and personal computers, without disrupting existing bank or Card Scheme protocols. Through direct PIN entry, the solution facilitates improved security, reduced risk and fraud, and improved convenience.
The company is based in Wales, where all the propri-
There are some complex mathematical and
cryptographically process and elliptical concepts bound into
the solution, but essentially the number that is entered on the mobile device is not the
number sent via the network.
etary patent-pending technology has been developed. “The technology is very flexible and powerful, but it’s also light and easy to implement,” stated Mr. King. “Where we have spent a huge amount of time is upon making sure the implementation and integration process is easy and straightforward to use. After three proofs of concept, we’re now ready for roll out.”
As with all great ideas, it all seems much simpler after you’ve launched it. The reality is that myPINpad’s Chief Technology Officer started by utilising his back- ground in mobile and cryptography to look at how mobile technology and payment security are converg- ing. What stood out like a sore thumb, was that every transaction requires authentication.
Key to entering the Cardholder’s PIN securely into the user’s device is the ability to completely bypass the various system buffers and memory including the screen and keyboard buffers while at the same time combining other forms of authentication in the back- ground. This provides true multi-factor assurance with that same minimal level of effort as when entering the PIN alone. To achieve this, a unique real-time tokeni- sation and encryption system that renders the PIN unreadable and unrecoverable is required. This is simi- lar to the principle of a physical prism, but instead of
refracting light, it totally randomises the PIN input through a multi-layer refraction process that presents an alternative keypad to the user every time. The device and ALL buffers/memory are then totally con- vinced a different number to the real Cardholder PIN was correctly entered by the user.
“We are not using a simple prismatic effect,” explained Mr. King. “There are some complex mathematical and cryptographically process and elliptical concepts bound into the solution, but essentially the number that is entered on the mobile device is not the number that is sent via the network. It is simple to understand and use, but a huge amount of thought and technical understanding has gone into the process.”
After years in development, myPINpad arrives at a time of heightened focus and interest in alternative payment methods, especially with the launch of Apple Pay rolling out across retail and banking locations worldwide. However, it’s a shift in public awareness that Mr. King actually welcomes. “We would say and have said, that we have a proposition that is just as valid to Apple Pay as anything else,” stated Mr. King. “NFC transactions are limited to small amounts of money so, for larger transactions, secondary authenti- cation, in the form of the PIN, is required. Regardless of the method deployed it is very likely that single factor authentication including the use of biometrics will remain insufficient. So, for both face-to-face and remote transactions, there will still be a critical role for the PIN. I’m not looking to denigrate Apple Pay, but if you go down the mobile path then it has to be done securely and we can demonstrably prove that the mobile device can be used so that a pin or credential, of which the mobile has no record, is the safest solution.”
While this article might be your first encounter with myPINpad, as the company continues to sign contracts and build confidence with major global banking and retail brands, you can expect to hear lots more from myPINpad in 2016.
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