Atlanta, GA, May 7, 2015 — Acculynk, a unique technology driven payment solutions provider, announced today that its PaySecure Platform, leveraging its Randomized Pin Pad, has been identified as a key solution by the EMV Migration Forum in the white paper “Near-Term Solutions to Address the Growing Threat of Card-Not-Present Fraud” dated April 2015. The white paper provides an educational resource in reference to best practices for authentication methods and fraud tools to secure the CNP channel as the United States. migrates to chip technology. The paper can be downloaded via, http://www.emv-connection.com/near-term-solutions-to-address-the-growing-threat-of-card-not-present-fraud/.
CNP transactions are defined as payment card transactions where the cardholder does not present the card for merchant examination at the time of purchase, such as an ecommerce purchase, as well as purchases or payments made over the phone or by mail.
Acculynk’s PaySecure Solution, which uses a randomized PIN pad authentication method, allows consumers to enter a PIN to complete a transaction (consumers use their PIN-enabled debit card for e-commerce purchases). When consumers indicate they want to pay using a debit card from a bank that contracted for this method, a PIN pad floats on top of the e-commerce merchant’s checkout page. The consumer uses their pointing device (a mouse or their finger for a touch screen) to enter a PIN (thus preventing key logging). After each mouse click, the keypad is scrambled, and only the XY coordinates of each click are captured. When the PIN and other card data have been entered, the customer submits the transaction. The XY coordinates that represent the PIN are encrypted and sent to a data center, where they are converted to PIN characters and encrypted according to industry standards in a hardware security module (HSM). The PIN is never in the clear or stored at the merchant location.
“We are very proud that our technology solution was identified as a key solution to address fraud in this EMV White Paper,” says Ashish Bahl, Founder and CEO of Acculynk. “As E-commerce and mobile tranactions grow, the need for a CNP solution that helps to eliminate fraud is becoming vital. The white paper details not only the benefits to merchants, but also consumers, issuers and acquirers, such as other foreign networks.”