Contactless Payments: Mobeewave, a Platform for Accepting In-Person Payments with No PIN Entry, to Support High-Value Transactions

Canada-based Mobeewave, a certified platform that allows mobile app users to accept in-person payments without requiring extra hardware, is introducing several new features that aim to remove existing contactless payments limits for retailers and consumers, by using the Fintech firm’s proprietary tap-to-phone technology.

Mobeewave’s payment solutions allow companies to process contactless payments by simply tapping a card or an online wallet onto the back of an NFC-enabled mobile device, without needing dongles, special card readers or any other additional type of hardware.

As noted in a company release, tap-to-phone payments are processed by first entering a PIN on the screen of a vendor’s mobile device. This presents challenges such as requiring special hardware for PIN entry.

PIN for contactless transactions is not currently supported in several countries such as Canada, France, and the UK. PIN entry also presents security issues and can negatively affect user experience.

Mobeewave Limitless offers a wide range of high-value transaction contactless tap-to-phone features that aim to cater to various authentication challenges, regulatory requirements,  and Cardholder Verification Method (CVM) requirements in North America, Europe, and the Asia Pacific (APAC) region.

Mobeewave Limitless comes with a secure PIN-based solution. The customer’s CVV number is used to authenticate their payments. Mobeewave Limitless also leverages 3-D Secure 2.0, a security standard that’s used for digital CNP (card not present)  transactions. This technology removes the need for a PIN to authenticate the cardholder while conducting a tap-to-phone payment.

Mobeewave’s 3DS solution is able to authenticate and authorize users to complete transactions without a PIN. High-value contactless payments may be processed by initiating a 3DS check, which sends an authentication request to the user on their own mobile device.

Mobeewave’s solution aims to shift the chargeback and fraud liability or responsibility from the retailer to the card issuer.

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