Atlanta, GA, November 13, 2013 — Acculynk, the leader in remote PIN based payment authentication for global e- and m-commerce, today announces that PaySecure its flagship PIN authentication platform has successfully been embraced in India by some of the largest e- Commerce players in the country.
National Payments Corporation of India (NPCI) selected PaySecure as the exclusive authentication solution for e-Commerce for the Indian market in 2012. PaySecure was customized to meet Indian business and regulatory standards to accelerate the participation of RuPay PIN debit cards at major e-Commerce merchants.
After a successful implementation and launch in the Summer of 2013, a significant nexus of payment gateways, merchants and acquirers have adopted the trail-blazing solution, within one of the fastest growing e-Commerce markets in the world:
• 3 payment gateways have integrated the solution:
o CC Avenue o BillDesk o Citrus
• 14 acquirers have incorporated to the solution including:
o State Bank of India o Bank Punjab National o Central Bank of India o HDFC Bank
• 127 merchants have adopted the solution including:
o Ebay o Bose o Qantas Airlines o Coca Cola
“The Acculynk PIN authentication engine offers a unique user experience that reduces friction and almost eliminates abandoned transactions. This is the primary reason for such rapid adoption in the marketplace,” said Mr. A.P. Hota, Managing Director and CEO, NPCI. “We will continue to innovate with Acculynk so our e-Commerce offering is a recognized global standard.”
Acculynk is the only global payment gateway that brings e-Commerce merchants PIN authenticated payments for debit or credit cards across some of the largest markets in the world. Currently the PaySecure solution is supported in 3 of the 5 largest PIN debit markets: USA, India and China. Globally Acculynk supports over two billion bank issued cards in its network.
“We are delighted at the rapid success seen in the Indian market; this validates that Acculynk’s platform can scale into any large and complex market” says Ashish Bahl, Chairman & CEO at Acculynk. “By securing the USA, India and China we have established a rock solid foundation to build our global business.”