bankingciooutlook

Visa Issues MagicCube a Security Compliance Allowance

By: Banking CIO Outlook | Monday, December 07, 2020

i-Accept offers end-to-end security, functionality, and modern acceptance capabilities previously restricted to hardware-based terminals, providing near plug-and-play, entirely contained modules that can fit into the current flows of most modern acquiring bank or merchant acceptance solutions.

FREMONT, CA: MagicCube, the leader in the new category of Software Defined Trust (SDT), has declared that Visa has issued a security compliance allowance for i-Accept, a complete software-based replacement for traditional payment acceptance terminals. This compliance has confirmed that MagicCube has completed the security evaluation by Brightsight, the largest independent security testing lab in the world, depending on requirements set out in the Visa Ready Tap to Phone mPOS Solution Requirements with optional PIN capture guidelines.

"We've been hard at work developing our first-in-class product and are elated to receive this certification from Visa," stated Sam Shawki, CEO and co-founder of MagicCube. "This certification is the first step in shifting the security of mobile and IoT devices to the new category of Software Defined Trust."

"The ease of integration and minimal amount of certification time when integrating with MagicCube's i-Accept is unlike any product or solution out there in the market," stated Maher Mikati CEO of Areeba, the leading acquirer in Lebanon with expansion plans into Egypt, Iraq and the rest of the MENA region. "Areeba plans on expanding its partnership with MagicCube to all the countries it has a presence in."

i-Accept offers end-to-end security, functionality, and modern acceptance capabilities previously restricted to hardware-based terminals, providing near plug-and-play, entirely contained modules that can fit into the current flows of most modern acquiring bank or merchant acceptance solutions. Powerful features, such as over-the-air upgrades, remote provisioning, risk management as well as mitigation, remote attestation, and compliance, enable i-Accept to be easily integrated utilizing simple APIs, deployed rapidly and operated easily.

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