MasterCard Teams with Acculynk to Give Issuers Option to Use PaySecure for Enhanced Debit E-Commerce Authentication
PaySecure provides consumers the option to use PIN debit on the Internet with a secure, software-only service that requires no enrollment or redirection
ATLANTA, Jul 28, 2010 (AllPayNews) -- Acculynk announced today an agreement with MasterCard Worldwide to provide PaySecure(R), Acculynk's Internet PIN debit solution, to U.S. financial institutions that issue Debit MasterCard cards.
PaySecure is an optional cardholder verification method for PIN-based e-commerce transactions. In keeping with MasterCard's commitment to innovation in debit, the agreement provides participating financial institutions an opportunity to expand and enhance their e-commerce authentication methods with PaySecure via the MasterCard Worldwide Network.
"PaySecure offers U.S. consumers the option to use PIN debit on the Internet with a secure, software-only service that requires no enrollment or redirection from the merchant checkout," said Ashish Bahl, CEO of Acculynk. "Our agreement with MasterCard allows us to offer this option to a selection of financial institutions that offer PIN entry on Debit MasterCard cards."
"In order to provide our customers with additional choice and flexibility for securing online purchases, MasterCard customers can now opt to use the PaySecure Solution for their debit cardholders," said Patricia Preston, Group Head, Debit Product Management, MasterCard. "With PaySecure, we are offering our customers another tool intended to enhance security for online payments."
PaySecure appears as a payment option at an enrolled online merchant's checkout screen when the consumer's debit card is issued by a financial institution that has enrolled its cards in the PaySecure service. Rather than typing in their PIN, consumers enter their PIN using their mouse on Acculynk's patented, graphical PIN-pad to complete the transaction.
Acculynk secures online transactions with a suite of software-only services backed by a patented authentication and encryption framework. Acculynk's services provide greater security and return on investment for issuers, EFT networks and merchants. Acculynk is the first company to introduce a software-only service for Internet PIN debit payments, PaySecure(R). PaySecure is enabled on over 1,000 merchant websites, and Acculynk has partnerships with 9 EFT networks to process PaySecure transactions. For more information, visit http://www.acculynk.com.