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Tuesday, September 26, 2023
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Simply enter a pin code: PSB has expanded the possibilities of accepting payments via smartphone

Date: September 26, 2023 Time: 08:13:40

PSB lifted the restrictions on the amount of purchases when paying by bank card via the seller’s smartphone. To confirm the payment to the point of sale customer, all you need to do is enter a PIN code.

Entrepreneurs who are PSB customers have been able to use a smartphone instead of a POS terminal for several years. To do this, just install a special banking application on your device and immediately start accepting payments.

Making payments online using a smartphone using a PIN code is just as secure as using a payment terminal. The device from which the payment is made does not store customer card data. Data transfer is encrypted through standard and additional security mechanisms used in conventional acquisition terminals. The pin code is entered using Pin On Glass technology, where the numbers to enter it are arranged randomly each time, increasing the security level of the transaction.

According to Nikita Khomutov, Vice President and Head of PSB’s Procurement Department, over the past year the total number of transactions using the service has increased more than 2.5 times. This suggests that business owners have appreciated the convenience of accepting payments via smartphones.

– Now the possibilities of this method of accepting payments have been expanded by eliminating the limit on the amount of card payments at points of sale. The buyer, using his bank card, will only need to enter a PIN code, which, on the one hand, expands the possibilities for companies to use a convenient calculation method, and on the other hand, guarantees secure card payments for a large amount. quantity, explains Nikita Khomutov.

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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