Rocket Internet’s payleven, Europe’s mobile payment pioneer has today been 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 & PIN device and overall payment solution.
In addition, payleven has become part of MasterCard’s mPOS program, a project to ensure mobile point-of-sale providers adhere to the best industry practices.
Alston Zecha, Co-Founder and COO: “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 & PIN device meets the highest security standards. Being part of the FSA and MasterCard’s mPOS program acknowledges our hard work to offer the easiest and safest mobile payment solution.”
payleven’s latest innovation, the mobile Chip & PIN device, is a compact and secure gadget that links to a smartphone or tablet via Bluetooth. Customers simply enter their PIN 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.
The Financial Services Authority (FSA) is an independent non-governmental body, given statutory powers by the Financial Services and Markets Act 2000 to control and regulate the financial service sector in the United Kingdom. It is a company limited by guarantee and financed by the financial services industry. It has been given several powers to guarantee the principles of good regulation. The FSA set the standards for the financial service industry that the different providers have to obey.