According to a survey conducted by myPINpad, 69% of respondents feel secure shopping in-store thanks to Chip and PIN. 85% of respondents would like to be notified on their mobile of high value transactions and have the ability to instantly authorise with a PIN, while 90% of frequent online shoppers say that if it were available they would use PIN to authorise payment via mobileThese results demonstrate not just the trustworthiness of PIN but, also, a willingness among consumers to apply this familiar security method to new scenarios. As transaction volume migrates to mobile, in order to combat increasing levels of fraud and meet PSD2 requirements for “strong authentication”, the payment industry should look to provide appropriate and familiar secure processes that the consumer recognises, trusts and will use with confidence.
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