The “Pin Online” credit card payment system allows you to make a contactless purchase over €50. Faster than the process with insertion of the card, the “Pin Online” should be deployed soon in France.
No longer having to insert your card to pay for your shopping, this might soon become possible. And this, thanks to a innovative technology which has just made its appearance in France. While contactless payment has been developed for several years now, it comes up once morest a ceiling which is set at a maximum of €50. Today, of the 73 million bank cards in France, 82% allow contactless payment. Soon, they will even allow you to pay over €50 without inserting them, thanks to “Pin Online”.
How does “Pin Online” work?
The “Pin Online” is a hybrid payment system between classic payment and contactless payment. With this feature, the customer does not have no need to insert card in the payment terminal but he still has to enter his secret code.
Nicolas Riegert, boss of PayXpert, who participated in the implementation of this solution in Parisian taxis, explained to MoneyVox : “We are checking the PIN directly from the issuer from the menu.”
What are the advantages ?
A new payment system that will allow facilitate checkout of many people. According to the Banque de France, 57% of card payments were made contactless in the 1st half of 2021. More security too since the bank card remains in the hands of its holder, which limits the risk of theft of identifiers.
Another advantage of “Pin Online”: it should limit bugs of the “debit abandonment” style relatively frequent during contactless payments. When these messages appear, simply entering the code without inserting the card should be enough to remedy the problem.
Will the feature go mainstream?
Currently, this system is only tested in France by G7 taxis, on board its 9,000 Parisian taxis. It is only available with cards running on the network CB, Visa et Mastercard. It must now be generalized to all cards and payment terminals.
An extension that should be “quite fast” according to the boss of PayXpert who estimates between “1 year and 1 year and a half” the generalization of this mode of payment.
