Atlanta, GA, April 24, 2012 — Acculynk today announced it has signed a new agreement with Digital River World Payments. Based on the agreement, online merchants using the Digital River World Payments or Global Commerce enterprise solutions now will have access to Acculynk’s PaySecure® payment method for Internet PIN debit. Acculynk’s PaySecure is the first software- only service in the U.S. that provides consumers the option to pay for online purchases with a PIN debit card. Today, there are more than 82 million PIN-only debit card holders in the U.S., Puerto Rico and the Caribbean.
“There are millions of consumers who prefer PIN-only debit cards over other payment options,” said Souheil Badran, senior vice president and general manager for Digital River World Payments. “By offering our clients PaySecure’s Internet PIN debit as an online payment option, we can put them at a significant economic advantage, helping them reach more customers and ultimately generate incremental revenues.”
With PaySecure, online shoppers enter their PIN on a virtual PIN-pad pop-up during the checkout process on the merchant’s commerce site. PaySecure is designed to provide an extra layer of security for debit card transactions, helping reduce fraud and charge-backs for merchants, while offering opportunities for incremental volume.
“Interest in Internet PIN debit from online commerce merchants is surpassing our expectations as debit continues to be an increasingly popular payment method for consumers,” said Ashish Bahl, CEO of Acculynk. “After the Durbin Amendment passed, online retailers began expanding their payment options, moving to PIN debit and enabling customers to authenticate their commerce transactions with their PIN right at e-checkout, just as they do with PIN at point of sale. While this shift has provided consumers added convenience, it promises online merchants increased revenues as well as lower fraud rates and chargeback costs.”