MYPINPAD, an enabler of multi-factor authentication for touchscreen devices such as smartphones and tablets, has recently channeled efforts to bring its simple, proprietary and customer friendly authentication solution to MENA and Asia Pacific.
Following appointments to lead its global activity, MYPINPAD has aligned plans for international growth with key trends in regional markets. MYPINPAD’s proprietary technology is perfectly suited to markets where mobile has superseded other online devices, and where security problems are rife.
The global mobile payment transaction market is expected to reach USD 768 billion in 2016; and Africa and Asia Pacific are predicted to remain at the forefront of global demand for years to come. Still, authentication technology has lagged behind mobile adoption. Although Asia leads the way in proportionate mobile ecommerce, with nearly all purchases occurring on smartphones, the main authentication method available has been the 30-year old One-Time Password (OTP) system.
MYPINPAD has long term plans for investment in the MENA and APAC regions with permanent operations now in Indonesia and Hong Kong, two key vantage points for growth. Recent leadership appointments include, Dheeraj Ahluwalia as Head of Global Partnerships.
Dheeraj (DJ) Ahluwalia, Head of Global Partnerships for MYPINPAD says, “MYPINPAD’s international expansion was ignited due to an opportunity to solve a number of issues facing m/e-commerce and online banking in the APAC and MENA regions. The legacy of one-time passwords has been a particular driver as has the dropout rate of folks trying to register their cards securely into an e-wallet or a mobile banking application. With MYPINPAD’s simple, easy to use platform, customers can use their tried and trusted cardholder PIN to on-board their cards, activate their application or authenticate a transaction on their smartphone whilst delivering the security of a 3DS transaction.”
Mr Ahluwalia, who brings MENA specific expertise, is leading the expansion in to the region. Prior to joining MYPINPAD, he was Head of Marketing, Brand and Communications at the National Bank of Oman, and also Head of Marketing for the First Gulf Bank. He is currently spending much of his time in the MENA region in order to drive MYPINPAD’s presence in the market.
