payleven releases Chip & PIN solution

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• First pan-European mobile payments company with Chip & PIN. Accept payments on both smartphones and tablets • payleven now fully compliant with the standards of all major debit & credit cards including Visa & MasterCard • Highest security standards with full EMV & PCI accreditation

With Chip & PIN, payleven now offers a comprehensive solution for all cards and is therefore leading the European market.

payleven is the first provider of a Chip & PIN solution for mobile payments across Europe, as announced today at the ‘Apps World’ conference in London. In Europe, Visa only allows mobile payments with Chip & PIN authorization. Now with payleven, all credit and debit cards from all major providers can be accepted with the superior payleven customer experience. With the introduction of its Chip & PIN solution, payleven is the first company on the European continent to fulfill the high technical and security standards required for a fully-functional mobile point of sale. With payleven, all merchants now have the opportunity to accept all major credit and debit cards.

payleven’s Chip & PIN solution works through a compact, secure device that links to a Smartphone or Tablet via Bluetooth. The PIN is entered on a keypad on the device. With Chip & PIN, transactions are as secure as on a traditional card terminal and merchants are fully protected. Chip & PIN will be offered in all payleven international markets including UK, Germany, Italy, The Netherlands, Poland and Brazil. Online registrations for Chip & PIN will be accepted from 15 October.

Co-Founder and CEO Dr. Alexander Zumdieck: “Since the foundation of payleven, we have focused our efforts on developing a Chip & PIN solution. Visa only allows Chip & PIN authorisations for European mobile POS solutions. With Chip & PIN, payleven now offers a comprehensive solution for all cards and is therefore leading the European market.”

For the UK the benefits are clear- given Visa and debit cards’ market dominance of the UK market (accounting for c.85% of the 4 billion card transactions annually) having a Chip & PIN solution is key. With payleven merchants now can accept 100% of all card types, whilst the other mPos solutions available based on non Chip & PIN technology (mag-stripe, chip & sign) can only accept non-Visa credit cards, which represent only 15% of the market.

Through the mobile Chip & PIN device, payleven has revolutionized the ability for small merchants and service providers to take payments: they can now take debit and credit card payments anytime and anywhere - be it in a car, on the door-step of a client or even on the beach.

Co-Founder and CTO Rafael Otero on the new Technology: “With Chip & PIN, we have developed an optimal solution for mobile payments. We are very excited that our product is coming to market. We will start taking registrations for our Chip & PIN device starting 15 October & the first devices will ship shortly thereafter. This marks the next step towards our goal of enabling small businesses to accept card payments easily and everywhere.”

Unlike traditional card payment devices, payleven’s new Chip & PIN solution is priced in a fair and transparent way, based purely on usage with a small transaction fee. There are no minimum sales, no monthly fees and no hidden costs. payleven is a great solution for small businesses who would like to start accepting card payments. “Our merchants love the simplicity and transparency of payleven’s pay as you go pricing.” says Zumdieck.

About the Company
Payleven is a Start-up with its Headquarters in Berlin and London and was founded in March 2012. The company is under the leadership of founders Rafael Otero, Alston Zecha and Dr. Alexander Zumdieck and currently employs around 70 employees.

1. What is the largest advantage of being able to support Chip&Pin cards?
We are very excited about our Chip & PIN device because it is the most secure and future proof technology which enables our customers to have the broadest acceptance of card payments.
Taking the UK for example, of the 4 billion card transactions that take place annually, roughly 85% are either Visa-branded or are debit cards. Other mPOS solutions available until now (mag-stripe, chip & sign) can therefore only accept 15% of all card transactions. Now, our customers will be able to accept 100% of cards.

2. Is the technology different from the credit card enabled version, and if so, how?
Swipe and sign as well as chip and sign mPOS solutions are only able to accept credit cards and only in very few markets debit cards.

3. Why is being the first to support Chip&Pin important?
We wanted to create a mPOS solution which enables small and independent businesses to accept the broadest variety of cards at the highest level of security, anytime and anywhere.

4. Who would you say that your biggest competitors are that do not support Chip&Pin yet?
"mPOS" is a very broad space and there are a number of players. With our Chip & PIN solution, our high quality technology and our strong focus on customer service, we believe that we do things quite differently from anyone else in Europe.

5. When will you start supporting Chip&Pin and in which countries?
We will start taking registrations for our Chip & PIN device from 15 October in all European countries where payleven currently operates.

6. Do users need new hardware?
We have a unique piece of hardware that will be made available to our registered and security-checked customers.

7. Which banks/countries will be able to use the Chip&Pin system?
Chip & PIN is the widest accepted form of card worldwide. This applies to both debit and credit cards and for all major credit card associations.

Additional Information and Press Material can be found at

Press Contact:
Ian Marsh
Tel. +44 7429 196 877
ian.marsh (at) payleven (dot) co (dot) uk

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