FSA authorises first mobile chip and pin payment provider


Payleven recognised by FSA, and its security credentials also furthered by joining MasterCard's mPOS programme

payleven, European mobile payment provider, has announced it has become the first mobile payment provider to be fully authorised by the Financial Services Authority (FSA) as a payment institution. This accreditation was issued due to the highest security standards being met by payleven's mobile chip and pin device and overall payment solution.

Additionally, payleven has become part of MasterCard's mPOS program, a project to ensure mobile point of sale providers adhere to the best industry practices.

payleven's mobile chip and pin device is a compact and secure gadget that links to a smartphone or tablet via Bluetooth. Customers enter their pin number on the keypad of the device to conduct easy and smooth mobile payments.

The device provides highest possible security standards for both merchants and customers, as card transactions are as secure as paying at a traditional card terminal.

Alston Zecha, cofounder and COO at payleven, commented: 'We are very proud to be a trusted and fully authorised financial institution in Europe. Payleven is the first mobile payment provider to receive FSA authorisation, so it's a major milestone for the company.

'To be part of MasterCard's mPOS program further emphasises our chip and pin device meets the highest security standards. Being part of the FSA and MasterCard's mPOS programme acknowledges our hard work to offer the easiest and safest mobile payment solution,' Zecha added.


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