Revolutionising Fintech: Kosta Du Unveils Game-Changing Tap-on-Phone Solution with PIN Security

Fintech innovations have revolutionised financial transactions, making them increasingly convenient for users. Contactless payments are gaining traction, with smartphones becoming indispensable tools for sending and receiving payments. Tap-on-phone payments and Soft Point of Sale (POS) systems are among the many advancements contributing to this shift, ensuring seamless and efficient transactions.

However, until recently, there was no solution for sending or receiving payments through tap-on-phone with a PIN code or for Soft POS transactions beyond the Cardholder Verification Method (CVM) limit. Kosta Du has now introduced a novel solution to address these challenges, making it possible to send and receive payments with a PIN code and process transactions beyond the CVM limit, thereby providing increased flexibility and security.

Previously in the UK, payments could not be received beyond £45, but this new solution makes it possible. Similarly, transactions exceeding €50 can be sent in Europe. This development aims to eliminate the constraints imposed by PIN codes and CVM restrictions, allowing individuals to expand their horizons and engage in financial transactions through their smartphones with greater ease and assurance.

The new Soft POS solution enables users to accept payments beyond the CVM limit by entering the transaction amount, scanning their Visa card, and inputting their PIN code. This tap-on-phone solution with PIN entering is designed to save time and enhance users' experiences while reducing the likelihood of fraud.

Smartphones can now handle larger payments, increasing utility and making transactions more efficient. Integrating this solution into the broader ecosystem of digital payments will contribute significantly to the ongoing evolution of fintech, ensuring that consumers continue to benefit from the latest developments in this dynamic sector.

The only requirements for utilising this solution are a smartphone, a Visa card, and a PIN code. Users can make payments in a few clicks and receive large amounts within minutes. As technology continues to evolve rapidly, this innovative solution adds to the ever-growing list of advancements in fintech that aim to simplify and improve consumers' lives.

Moreover, implementing this solution is expected to positively impact small businesses and entrepreneurs, enabling them to accept more significant transactions without needing additional hardware. In addition, by embracing the latest technology, companies can provide a more seamless and secure payment experience for their customers, increasing trust and fostering customer loyalty.

In conclusion, Kosta Du's new tap-on-phone solution with PIN entering is a prime example of the ongoing advancements in fintech, which seek to provide practical, secure, and efficient methods for conducting financial transactions. As the industry continues to innovate and evolve, we can expect further breakthroughs to transform how individuals and businesses manage their finances, paving the way for a more connected and accessible financial future.