Mypinpad

About Mypinpad

Founded in 2012 by Justin Pike, Mypinpad operates within the financial software industry, providing software-based payment and authentication solutions. Pike, an innovator in the IT industry for over 25 years, previously co-founded eNett International, a significant player in the travel payments sector. His experience in payment processing informed his vision for Mypinpad, which centers on the belief that secure end-user authentication, particularly on mobile devices, is crucial for both financial and non-financial transactions.

Mypinpad has developed a platform that enables secure card acceptance, identity verification, and tokenized services on commercial off-the-shelf devices like smartphones and tablets, eliminating the need for additional hardware. The company's core product is a software solution that facilitates secure PIN entry on touchscreens, creating a trusted environment for transactions. This technology, known as 'Tap to Phone' or 'SoftPOS', allows merchants to turn NFC-enabled mobile devices into point-of-sale terminals. The solution is designed for both card-present and card-not-present payments and integrates with Android and iOS. Mypinpad was the first company globally to be certified to the Payment Card Industry (PCI) Security Standards Council's Contactless Payments on COTS (CPoC™) Security and Testing Requirements.

The company operates on a B2B SaaS business model, charging a fee per device per month. Its client base is diverse, spanning retail, banking, insurance, government, and logistics. Mypinpad partners with acquirers, fintech companies, payment facilitators, and ISOs to deliver its solutions globally. A significant milestone was the April 2022 merger with SmartPesa, a provider of payments and agency banking solutions, which expanded Mypinpad's scale and product offerings. The combined entity operates under the Mypinpad brand. The company has secured total funding of $32.1 million over several rounds, with a notable Series C round of $13 million in June 2023 led by Crossfin Holdings.