PIN on Glass

There will be a day when the POS readers that we know today will be a thing of the past. You may one day walk through the Smithsonian or even the some-day-to-be-established Museum of Credit Cards and see that POS terminal and you will tell your grandkids that you used them. Well, that day may be here sooner than you think.

A new technology is being implemented called PIN on Glass. It allows almost anyone to be able to take debit card payments using a smartphone or tablet. Since it is mobile the appeal for a salesman on the road or a merchant set up along the roadside or in a temporary location should be obvious. No POS terminal or any additional equipment is required.

An app is used to process debit card payments. Since transactions that use PIN technology are more secure this has the potential to take a bite out of debit card fraud. Transactions will no longer be processed asking for a signature that anyone can forge. This is better for both the consumer and the merchant and will hopefully help to reduce costs.

The major drawback is public acceptance. Many people are apprehensive about their personal data and we can’t say that we blame them. With all of the data breaches that have been happening it is understandable. For many the thought of them entering their PIN on a stranger’s device is not appealing and they may not trust it. Until the technology becomes more common people will be cautious with it and rightfully so.

The rollout of PIN on Glass is expected to happen this year and as a merchant this may be something that you want to look into. If you have any questions about this give JLE Business Consultants a call and we will be happy to help you out.