Phos is awarded CPoC certification for its Software POS Solution
phos,The Payment Card Industry Security Standards Council (PCI SSC) has awarded CPoC accreditation to the fintech that developed the world’s most popular Software-only Point of Sale system (POS). This certification makes phos one the few solution providers worldwide that has achieved the security standard.
The CPoC accreditation ensures that all merchants using phos’ software POS system will have their payment account data protected. This is achieved through proactive monitoring and integrity inspections to ensure that the security level of the phos system is never compromised.
PCI’s CPoC standard provides an added layer of security and testing requirements for products that support contactless payments on a commercial off-the-shelf (COTS) device, like a smartphone or tablet.
In its commitment to security excellence, phos plans to adopt the MPoC security security standard. This is expected to launch later in the year.
Brad Hyett is the CEO of phos.: “We’re proud to have secured PCI’s CPoC accreditation as it allows us to continue delivering great products to our customers while providing the best possible payments security. At phos, we’re constantly identifying ways to innovate and challenge ourselves to develop better products and services for our customers. Merchants are increasingly demanding more efficient and convenient ways to accept payments, so it’s imperative that our software POS solution not only delivers on this demand but comes with the assurance of safe payments too.
“The timing of our certification has allowed us to ensure that the architecture of our technology is in line with the expectations of MPOC and delivered at the conclusion of the scheme waivers that were previously in place. I’m delighted with the way our team has managed this and we see several of our partners benefitting from this approach already.”
phos has been expanding its reach globally over the past few years through a series of partnerships, including collaborations and platforms for conversational commerce such as CM.com, UTP, and Dutch neobank bunq. This accreditation allows phos offer a better software POS solution to existing and potential customers.
The London-headquartered business also secured €2 million (approximately £1.7 million) in equity funding in August of last year. The fintech was able to expand its operations to new markets and hire more people to its development department with the new capital.