In a blog post for Digital Banking Club, Infobip CEO and founder Silvio Kutic explains how recent developments in professional SMS systems have started to reassure banks and cardholders that the SMS platform can be used for credit card PIN distribution – an important function traditionally entrusted to the postal service.
Easily deployable, this new generation of SMS systems can also reduce the time and cost associated with PIN delivery, making it easier and quicker for customers to get a new account or retrieve a forgotten PIN number. All this makes it more cost effective for banks, as well.
However, PIN distribution solutions need to comply with additional security standards, the most prominent of them being the Payment Card Industry Data Security Standard (PCI DSS) which provides an actionable framework for developing a robust payment card data security process - including prevention, detection and appropriate reaction to security risks...
Read more at the Digital Banking Club (registration required).