Trustonic and Synthesis partner to make PIN Entry possible and unlock the mobile point of sale market
Cambridge, United Kingdom – 15 June 2021 – Cybersecurity technology leader Trustonic today announces its partnership with software and consulting company Synthesis Software Technologies to increase the opportunities available to businesses using software Point of Sale (SoftPOS) across Africa.
Synthesis became the first Tap on Phone solution provider in Africa when it launched Halo Dot with Nedbank in June 2020. On launch, Halo Dot provided a new way to accept low-value contactless payments where a PIN was not required.
The Trustonic-Synthesis partnership enhances this solution allowing for PIN entry. Halo Dot now provides the Tap on Phone technology used to accept contactless payments on any Android device with Near-Field Communication (NFC). Trustonic’s SDK provides the state-of-the-art security features for secure software-based PIN Entry on the same mobile device. This eliminates the need for separate card readers. Halo Dot now enables users to accept high-value contactless payments using PIN entry, adding to its growing list of firsts for Africa.
This Tap on Phone + PIN capability is a true software equivalent to expensive hardware Point of Sale (POS) terminals. Halo Dot will enable informal traders, SMEs and micro enterprises to accept card payments anywhere, anytime and of any amount, creating a safer alternative to handling cash.
Pierre Aurel, Head of Payments at Synthesis stated: “Over the last year, the world has witnessed rapid growth and adoption of contactless payments, this has largely been underpinned by innovations related to mobile phones. ‘Halo Dot’ is one of these innovations – it provides a novel way to accept card payments simply by tapping a payment card on a mobile phone. This technology empowers both informal and formal businesses to accept contactless payments directly on their mobile phone, increasing accessibility and reducing costs. Until now, only low-value contactless payments were possible, but our partnership with Trustonic has unlocked the true value of Tap on Phone by making PIN Entry possible.”
Jon French, Chief Revenue Officer at Trustonic said: “With the pandemic, cashless and contactless transactions have become increasingly the norm on the African continent. By integrating our technology with Synthesis’, customers and small businesses will, for the first time, be able to safely and securely accept contactless transactions using PIN entry. We are excited to partner with an innovative and forward-thinking company like Synthesis as we look to roll out this solution to other markets and broaden the use cases over the coming months.”
Trustonic’s SDK provides the strong security foundations that enable organisations to build secure payment applications, including separate capture of PIN and PAN at the point of transaction. It also secures critical user data, helping solution providers meet the evolving CPoC and CPOC + PIN standards. Synthesis is the first solution provider to use Trustonic’s software-based Trusted Execution Environment supporting Trusted User Interface. This allows Synthesis to scale their solution rapidly without being tied to specific hardware and automatically benefitting from the best security addressable on a device.
Trustonic powers trust in technology by embedding security into smart devices and connected cars, for businesses to innovate and embrace new opportunities with peace of mind. Using best-in-class hardware level security coupled with software app protection, Trustonic secures revenue, powers innovation and ensures reliability.
Based in Cambridge, UK, Trustonic was initially created from a joint venture between ARM, Gemalto and G&D. Today, it counts the world’s leading car manufacturers, financial institutions and mobile operators as customers, as well as every tier one Android handset manufacturer.
Synthesis is a true South African success story. Synthesis believes that providing innovative solutions based on emerging technologies will help their clients become globally competitive. Synthesis focuses on banking and financial institutions, retail, media and telecommunications sectors in South Africa and other emerging markets.
In 2017 Capital Appreciation Limited, a JSE-listed Fintech company, acquired 100 percent of Synthesis. Following the acquisition, Synthesis remains an independent operating entity within the Capital Appreciation Group providing Cloud, Digital, Intelligent Data, MSP, Payments and RegTech services as well as corporate learning solutions through the Synthesis Academy.
Seamless, Speedy and Secure: The Lowdown on Halo Dot
We live in a world where ease and speed are expected - our impatience grows stronger every day. This doesn’t stem from a sense of entitlement but is a product of constant evolution and innovation. This applies especially to making payments.
Halo Dot Achieves Visa-Ready Certification for Tap to Phone SDK
Halo Dot, a division of Synthesis Software Technologies, has attained Visa Ready Certification for its Tap to Phone SDK, streamlining contactless payments on Android devices. The Full SDK certification eliminates the need for PCI lab assessments, saving time and costs for integrators. By offering a simplified and secure solution, Halo Dot aims to accelerate SoftPOS technology adoption. This achievement underscores Halo Dot's expertise in contactless payments and showcases its leadership in the SoftPOS field.
The stickiness of security for customer trust and seamless transaction
The McKinsey 2020 Digital Payments Consumer Survey found that digital payments continue to grow in adoption and relevance. Smart solutions that offer accessible and easy digital transactions are increasingly becoming essential to consumer stickiness and engagement. However, as these solutions evolve, so must the security surrounding them to ensure that both retailer and consumer are protected. This is particularly relevant with software Point-of-Sale (POS) platforms which are gaining traction in the payments space.