The ability to securely deliver PINs to cardholders while reducing the cost of delivery is a priority for every card issuer and financial service provider. Sending PINs through traditional mail is costly, time consuming, and more importantly, highly insecure.

In this month’s edition of eBilling Insight, we explore the Striata ePIN – a secure, stand-alone PIN distribution system that safeguards the PIN from generation to distribution, ensuring that only the customer has access to it.

The Striata ePIN solution uses the same technology and functionality as Striata’s secure email document delivery solution – providing financial institutions and other card issuers with secure, efficient electronic delivery of the PIN. This is becoming an increasingly important requirement as card suppliers compete to provide exceptional customer service.

New cards and forgotten PINs result in high volumes of PIN mailers being sent through the mail to customers daily. Security is at the core of all PIN based transactions. While cardholders must be cognizant of keeping their PIN a secret, the matter of PIN privacy originates with the card issuer.

PINs can be securely issued and managed over previously insecure mechanisms: email, the web and mobile networks, providing a wide range of benefits to both the cardholder and the card issuer, including the following:

• No paper, print or postage administration;
• Delivery is not reliant on local mail postal methods, which allows the PIN to be delivered faster and in many cases almost immediately;
• Enables the card holder to receive their PIN at their convenience;
• Provides proof of delivery of the PIN;
• Dynamic, personalized marketing can be included as part of the delivery process;
• The solution has excellent green credentials by making paper-based delivery or branch collection processes obsolete;
• Complies with requirements defined by VISA, and can therefore be used by any card issuer requiring electronic PIN distribution;
• Stand-alone secure solution can be easily integrated alongside existing PIN issuance methods;
• Flexible integration and can be adapted to each issuer’s individual requirements through a range of options for customization;
• Supports a number of security settings for the different encryption methods and key length versions;
• High level of security – 256 bit AES encryption;
• Provides HSM data protection during transfer and for data at rest;
• Data confidentiality – no cardholder account or personal data is stored in the system

The highest level of security

Striata ePIN meets the global PIN distribution requirements issued by VISA, by ensuring the security and privacy of the PIN throughout the delivery process. This is achieved for both the request and delivery of the PIN, via multiple channels and varying security levels.

Keen to know more about Striata ePin? Then chat to one of our eBilling specialists …