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Money2020 Exclusive: PIN on Glass to Revolutionize Retail Payments for Merchants and Financial Institutions

New Research Indicates the Technology Will Improve Transactional Security, Lower Cost of Acceptance and Increase Card Acceptance Rates


Santa Clara, CA - October 24, 2017 ( Newswire) MagicCube, the creator of the world's only Software Trusted Execution Environment platform (sTEE™), today introduced a new Impact Note from Javelin Strategy and Research that outlines the potential of PIN on Glass technology on point-of-sale (POS) commerce. Building on the momentum of improving card acceptance across U.S. retailers, PIN on Glass transforms regular mobile devices into full-featured POS systems capable of securely accepting payment card PINs onto a touchscreen.

"The adoption of PIN on Glass is a massive opportunity for businesses and banks that issue EMV payment cards, and it also offers a societal benefit. By enabling higher card acceptance rates for consumers and lowering costs for merchants, the technology stands to broaden the digitization of payments worldwide," said MagicCube CEO and Co-Founder Sam Shawki.

Findings from the PIN on Glass Impact Report from Javelin and MagicCube include the following specific benefits:

  • Improved security for consumers. From a cardholder verification method (CVM) perspective, PIN is more secure than signature (with fraudsters easily using lost or stolen EMV cards).
  • Lower card acceptance costs for businesses. Findings from Intuit indicate that 55 percent of small businesses in the U.S. don’t accept credit cards. PIN on Glass drives down the cost of acceptance and doesn’t require merchants to purchase expensive, dedicated payment terminals. These savings will be key in persuading more businesses to accept plastic rather than rely on cash and checks.
  • Increased payment volume for banks. For banks that issue EMV debit and credit cards, PIN on Glass offers lower POS fraud costs, increased purchase volumes, and greater merchant demand for EMV PIN at POS will produce more payment volumes for banks.

MagicCube has been working closely with some of the largest card brands to ensure adherence to the upcoming PIN on Glass standards and is working to drive change in PCI compliance requirements for mobile PIN acceptance. Final standards from the PCI Security Standards Council for software-based PIN entry for consumer-grade devices are set to be released by the end of this year. Until then, Javelin recommends that card-issuing banks, merchant acquirers, terminal manufacturers and others:

  • Issue PINs for existing or new EMV-chipped credit cards
  • Provide clear messaging to cardholders to assuage security concerns and promote mobile PIN-based payment card software on mobile devices
  • Work with card networks to shield small merchants from excessive liability chargebacks
  • Optimize how the fast-growing base of first-time card-accepting small merchants are serviced
  • Recognize that software-based (rather than hardware-based) advancements will be the future of payments, and incorporate that reality into new security standards

According to Michael Moeser, Director of Payments at Javelin Strategy & Research, "PIN on Glass represents a radically new software solution for PIN entry. It has undergone a successful trial in the UK and Australia for the past 18 months and is about to be released for worldwide adoption."

MagicCube has been at the forefront of PIN on Glass development. Last month the company introduced a suite of products (including MC-Token Shield and MC-Screen Shield) capable of replacing the need for hardware-secure elements to build, deploy and remotely provision and manage POS systems and other IoT devices. This transforms a regular mobile device into a full-featured POS system capable of securely accepting sensitive data, such as a payment card PIN, onto the touchscreen.

To view the full report, please visit: To learn more about MagicCube’s newly released MC-Shield product line, which secures tokenization, POS and PIN on Glass, and autonomous cars, please visit or visit them at Money20/20 in Las Vegas at booth #509.

About MagicCube

MagicCube is the creator of the world’s only Software Trusted Execution Environment (sTEE™) platform, a technology that enables large-scale deployment and management of IoT and mobile-secure solutions to consumers. The MagicCube sTEE platform provides a secure in-app container that protects sensitive data, sensitive logic, and cryptographic operations on the device while offering unprecedented ease of large-scale deployment and remote management capabilities. MagicCube is completely hardware-independent, runs on any smart device and is not limited to enterprise deployments. MagicCube has developed a suite of products (MC-Token Shield and MC-Screen Shield) capable of replacing the need for hardware-secure elements to build, deploy and remotely provision and manage point-of-sale systems and other IoT devices. This transforms a regular consumer mobile device into a full-featured point-of-sale system capable of securely accepting sensitive data, such as a payment card PIN, onto the touchscreen. For more information, visit or follow us on Twitter @Magic3inc. - investing ideas in tech stocks- mobile payments, social media, AI and Robotics, Drone Stocks, GPS and more

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