A consortium of fintech and security firms has introduced a contactless payment application that converts an Android mobile device into contactless payment terminals.
The application has been jointly developed by German fintech firm Rubean, CCV Group, Intertrust, and Riscure.
Dubbed PhonePOS, the application is designed to bring card acceptance to micro-merchants.
Using PhonePOS, merchants can accept card payments for goods and services using their Android handsets.
The application is certified to Visa and Mastercard brand pilot-programmes. It requires no additional hardware to support PIN entry.
Developed to PCI CPoC standards, the contactless payment application will be first launched in Germany followed by a wider rollout across Europe.
Intertrust general manager of the Secure Systems product group Bill Horne said: “This has been an enormous technical team effort.
“Combining whiteCryption, our world-class application shielding for zero-trust environments, with Riscure’s penetration testing and certification, has brought down barriers for Rubean and CCV to deliver streamlined payment capabilities to the market.”
To extend support to big retailers, the application is also being tested for deployment onto professional retail tablets with complete terminal-management capabilities.
Rubean CEO Hermann Geupel said: “The challenge of delivering a software-only solution has revolved around protecting the confidentiality and integrity of payment account data on consumer-grade mobile phones and tablets.
“With PhonePOS, we have developed a highly secure—and at the same time broadly usable—payment acceptance solution.”
CCV Germany chief technology officer Günther Froschermeier commented: “As cashless payments explode, the benefits of POS integration are becoming paramount. For example, instead of using additional hardware micro-merchants can use their Android smartphone for card acceptance, hospitality providers can integrate electronic payments within their ordering devices, and even large corporations can extend their business with home delivery solutions.”
To safeguard the encryption keys and provide application hardening, Intertrust’s whiteCryption solutions have been employed. Riscure delivered advanced penetration testing and certification.