Acculynk has entered into an agreement with Fifth Third Processing Solutions' ATM and POS network Jeanie Network in the US.
The Jeanie Network will begin to offer Acculynk’s Internet PIN debit solution, PaySecure, to Jeanie participants this year.
According to the Acculynk, PaySecure allows online shoppers to enter their PIN on a graphical PIN-pad at the merchant checkout, using their existing Jeanie debit card and a PIN to complete the transaction, without any hardware devices, passwords, enrollment, or redirection to another website for payment.
Acculynk said that the PaySecure is designed to provide an extra layer of security for debit card transactions, helping lead to reduced fraud and charge-backs for financial institutions, while offering attractive margins and opportunities for incremental volume.
Ashish Bahl, CEO of Acculynk, said: “PaySecure brings the convenience and security of the retail PIN debit experience to the internet, providing Jeanie debit cardholders a familiar payment option. Financial institutions can leverage PaySecure to keep more business in their institution, while growing their online debit card transactions and helping to lower their fraud costs.”