payleven releases first Chip & PIN solution for mobile POS

This news is actually a big deal. A very big deal. In one fell swoop, payleven has moved beyond iZettle and the likes of other young start-up, mobile POS companies, by taking card payment using Chip & PIN and ensuring that their solution is as secure as a traditional payment card terminal. More importantly though, it breaks the European market wide open – something that, despite hype to the contrary,  many of the other mobile POS guys have not quite done yet. And if you look at the photograph carefully you’ll see something that really makes payleven stand out in Europe – notably two major credit card logos. In Europe, Visa only allows mobile payments with Chip & PIN authorization. So as I said – this is a big deal.

payleven announced that they were the first provider of a Chip & PIN solution for mobile payments across Europe, today at the ‘Apps World’ conference in London. Now with payleven, all credit and debit cards from all major providers can be accepted meaning that payleven is the first company on the European continent to fulfill the high technical and security standards required for a fully-functional mobile point of sale.

Co-Founder and CEO Dr. Alexander Zumdieck commented, “Since the foundation of payleven, we have focused our efforts on developing a Chip & PIN solution. Visa only allows Chip & PIN authorisations for European mobile POS solutions. With Chip & PIN, payleven now offers a comprehensive solution for all cards and is therefore leading the European market.”

payleven’s Chip & PIN solution works through a compact, secure device that links to a Smartphone or Tablet via Bluetooth. The PIN is entered on a keypad on the device. With Chip & PIN, transactions are as secure as on a traditional card terminal and merchants are fully protected. The company says that Chip & PIN will be offered in all payleven international markets including UK, Germany, Italy, The Netherlands, Poland and Brazil. Online registrations for Chip & PIN will be accepted from 15 October.

“With Chip & PIN, we have developed an optimal solution for mobile payments. We are very excited that our product is coming to market. We will start taking registrations for our Chip & PIN device starting 15 October & the first devices will ship shortly thereafter. This marks the next step towards our goal of enabling small businesses to accept card payments easily and everywhere.” said Co-Founder and CTO Rafael Otero on the new technology.

The company believes that through the mobile Chip & PIN device, payleven has revolutionized the ability for small merchants and service providers to take payments. And as they remind us, using such a mobile POS device means that small or mobile businesses can now take debit and credit card payments anytime and anywhere – be it in a car, on the door-step of a client or even on the beach.

Unlike traditional card payment devices, payleven’s new Chip & PIN solution is priced based on usage with a small transaction fee. There are no minimum sales, no monthly fees and no hidden costs. payleven believe that they are a great solution for small businesses who would like to start accepting card payments. “Our merchants love the simplicity and transparency of payleven.” says Zumdieck.

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Categories: Mobile Payments

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