Fiserv Completes First-of-its-Kind Pin on Mobile Transaction with Visa

Fiserv Completes First-of-its-Kind Pin on Mobile Transaction with Visa

In
a move that is expected to boost the worldwide use of smartphones and tablets
as point-of-sale terminals, First Data, now part of Fiserv (NASDAQ:
FISV), is enabling merchants to use their own devices to accept payments of any
amount without any additional hardware.

This press release features multimedia. View the full release
here: https://www.businesswire.com/news/home/20200217005508/en/

Fiserv, together with Visa,
Samsung and PayCore, has completed a first-of-its-kind PIN on Mobile
Transaction. (Photo: Business Wire)

This
is ground-breaking for small businesses and service providers that operate
remotely due to its first-of-its-kind PIN on mobile capability, which
facilitates secure PIN entry on a consumer-grade mobile device. This simplifies
payment acceptance by allowing merchants to accept PIN-based contactless
transactions without the need for a separate card reader or PIN-entry device,
opening new market opportunities for merchants and allowing even
micro-businesses to accept non-cash payments.

Fiserv, a leading global
provider of payments and financial services technology solutions, recently
completed the first PIN on mobile payment via the app-based solution. Following
security testing, the solution, developed jointly with Visa, Samsung,
and PayCore, is being piloted in Poland,
with plans to expand in the EMEA and APAC regions.

“The
way people want to pay is changing,” said John Gibbons,
executive vice president and head of EMEA at Fiserv.
“Contactless CHIP and PIN payments are common, yet over 23 million* micro merchants
in Europe alone may lack
terminals to accept them. We’re making sure no merchant is left out and helping
them do business in the cashless economy by turning the smartphone into a card
acceptance device.”

The
flexible, cost-effective solution, which is currently available on select Samsung
devices, utilizes embedded near-field communication (NFC) functionality. A
payment can be made with contactless cards, NFC-enabled mobile phones, or other
NFC-enabled devices such as wearables.

“This
innovative service is a milestone for modern entrepreneurs. It will allow Samsung
mobile users to do more than just pay with their phones; it will let them
accept payments in places and situations where it might have been impossible
otherwise,” said Marcin Garbarczyk, Marketing and Strategy
Director at Samsung Electronics Polska.

Visa
approved the solution to authorize contactless payments with PIN capture
through its Visa tap to phone program.

“With
Visa tap to phone technology with PIN capture capability merchants of any size,
especially those operating outside of their premises – like plumbers,
landscapers or couriers – will now be able to accept digital payments on their
phones in a fast, safe and convenient way,” said Katarzyna Zubrzycka,
Head of Merchant Sales & Acquirer, Central
Eastern Europe, Visa.

PayCore
provides EMV software to facilitate transactions that are enabled by the Fiserv
solution.

“At
PayCore, we are delighted to be a technology provider for this innovative
solution,” said Turgut Güney, CEO of PayCore. “We are sure that this disruptive
technology will boost the use of smartphones and tablets as POS terminals in
the market, enabling card-present transactions of any amount to be carried out
in a secure environment.”

Source
* https://www.statista.com/statistics/878412/number-of-smes-in-europe-by-size/

About
Fiserv

First
Data is now Fiserv.

Fiserv, Inc. (NASDAQ: FISV)
aspires to move money and information in a way that moves the world. As a
global leader in payments and financial technology, the company helps clients
achieve best-in-class results through a commitment to innovation and excellence
in areas including account processing and digital banking solutions; card
issuer processing and network services; payments; e-commerce; merchant
acquiring and processing; and the Clover® cloud-based point-of-sale
solution. Fiserv is a
member of the S&P 500® Index and the FORTUNE®
500 and is among FORTUNE World’s Most Admired Companies®. Visit fiserv.com and follow on social media for more information and the latest
company news.

About
Samsung Electronics Co., Ltd.

Samsung inspires the world and shapes the future with
transformative ideas and technologies. The company is redefining the worlds of
TVs, smartphones, wearable devices, tablets, digital appliances, network
systems, and memory, system LSI, foundry and LED solutions. For the latest
news, please visit the Samsung Newsroom at http://news.samsung.com.

About
Visa Inc.

Visa Inc. (NYSE: V) is the
world’s leader in digital payments. Our mission is to connect the world through
the most innovative, reliable and secure payment network – enabling
individuals, businesses and economies to thrive. Our advanced global processing
network, VisaNet, provides secure and reliable payments around the world, and
is capable of handling more than 65,000 transaction messages a second. The
company’s relentless focus on innovation is a catalyst for the rapid growth of
digital commerce on any device for everyone, everywhere. As the world moves from
analog to digital, Visa is applying our brand, products, people, network and
scale to reshape the future of commerce. For more information, visit About Visa, visa.com/blog and @VisaNews.

About
PayCore

PayCore,
founded in 2001 to meet the software demand in payment technologies, provides
innovative, end-to-end solutions in the field of financial payment technologies
to the banking, telecom, payment service provision, card personalization,
public, transportation, and retail sectors. Having won more than 30 awards
locally and internationally for card management software, digital payment
solutions, smart city applications, EMV solutions, processing services and
secure hardware products, PayCore is a company which has exported technology to
more than 35 countries as the solution partner of more than 150 institutions.
For detailed information please visit www.paycore.com.

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