Mobility is the future of payments. More and more, consumers expect the convenience of paying when, where and however they want. For the most part, manufacturers have been quick to respond to this need. But there’s still one glaring fault: mobile PIN entry
Mobile solutions for processing debit transactions or enabling two-factor authentication are limited. Sure, consumers can enter PINs on dedicated mobile terminals, but when it comes to POS tablet systems or smartphones, merchants are left high and dry. Right now, tablet systems process debit as credit. That’s a workaround, but it’s not a long term solution. And as far as two-factor authentication is concerned, there’s just not an option.