MagicCube, ID Tech partner to bring hardware-free and PIN-on-Glass products to market
MagicCube, the creator of what it claims to be the world's only Software Trusted Execution Environment platform, and ID Tech, a point-of-sale payment peripherals maker, have announced a global partnership to bring to market a hardware-free product for secure card acceptance using PIN-on-Glass.
MagicCube and ID Tech said in a press release they are integrating their technologies with a new offering that will turn any locale or device into a point-of-sale device, which is intended to lower card acceptance costs for businesses, increase payment volume for banks and ensure payment security for consumers.
MagicCube said it has been at the forefront of PIN-on-Glass development and securing both the payments and acceptance verticals, and currently offers a suite of products — including MC-Token Shield and MC-Screen Shield — capable of replacing the need for hardware security to build, deploy and remotely provision and manage POS systems and other IoT devices.
"By partnering with ID Tech, we are able to provide the market with the next generation of POS solutions that don't require a separate device to enter your financial PIN," Sam Shawki, CEO and co-founder at MagicCube, said in the release. "With PIN-on-Glass, merchants now have a fully downloadable, upgradeable, subscription-based solution that can turn any mobile phone or tablet device into a POS."