PIN on Glass – Will This Technology Be Influential in 2018?

credit card payment

Over the last few years, we’ve talked about a number of different payment technologies. Some of these technologies have become quite prevalent while others have remained more experimental. Because everyone from startups to the biggest processors continue to push forward with new technology concepts, we want to dive into one that seems to have a good amount of traction.

That specific technology is PIN on glass. This technology is focused on solving a very common problem, which is when a merchant has a debit card reader but not a pad for entering PINs. The solution PIN on glass offers is enabling any smartphone or other mobile device with a screen to be used as a keypad for entering a PIN.

What’s the Appeal of PIN on Glass?

There are a few reasons why many merchants and payment providers are excited about this technology. The first factor that appeals to merchants is the ability to accept PIN debit cards without needing to purchase any additional equipment. By being able to accept and process these payments, merchants can take advantage of the lower costs that tend to accompany debit transactions.

Another appealing element of PIN on glass is it’s mobile friendly. Since lots of businesses now process payments in more than one location, this technology will fit right in with what they want to do. As long as a merchant brings any type of touchscreen device along with them, they’ll be able to process the PIN debit transactions.

The other factor we want to touch on is security. The industry has evolved to the point where it’s considered a security best practice to have a PIN entered with debit transactions. We’ve actually previously discussed the move away from signing credit card receipts. Because entering a PIN is such a solid security measure, utilizing this measure can actually result in lower transaction costs.

Are There Any Drawbacks to This Technology?

While there are a lot of good things to be said about PIN on glass, there is currently one big drawback to this technology. That drawback is consumer awareness. Even though entering a PIN adds security to transactions, consumers may not feel that way when they are asked to type their PIN on a phone or tablet screen for the first time.

This drawback will primarily affect merchants who are early adopters of PIN on glass. The best way to deal with this issue is to be prepared for questions from customers and clearly articulate to them why PIN on glass is actually quite secure.

Based on all the factors we’ve covered, it’s likely that many consumers will have their first experience with PIN on glass in 2018. If you want to be sure that you’re able to take advantage of this and other new payment technologies, the most important factor is to work with a processing company that’s known for staying up to date with industry developments.

Posted on Thursday, April 19th, 2018