Bindo, a retail technology company, has unveiled its new mobile EMV credit card reader for its cloud-based iPad point-of-sale (POS) system to provide protection for small businesses by offering more secure payments and preventing credit card fraud.
The launch comes in the wake of recent warnings from the Department of Homeland Security about POS malware and advice on implementing EMV-enabled PIN entry devices that have Secure Reading and Exchange of Data (SRED) capabilities.
Equipped with comprehensive end-to-end encryption with its iPad POS system, Bindo’s newly developed EMV reader is both EMV Level 1 and Level 2 certified in the US. It fits comfortably into the audiojack of an iPhone or an iPad, and enables mobile credit card payment acceptance.
Bindo said that its system encrypts and tokenizes cardholder data at the point-of-capture while its tamper-safe security module (TSSM) prevents third party brute force attacks.
Bindo’s mobile card reader will be able to process both chip-and-signature cards and chip-and-pin cards, enabling EMV debit card transactions, which will eliminate the complexity of carrying multiple terminals.
Bindo cofounder Brad Lauster said: "It’s the foundation upon which we create our best-in-class user experience.
"Features mean nothing without a trustworthy base, so every transaction made through Bindo is encrypted. Furthermore, we maintain 100% compliance with PCI Data Security Standards."