Acculynk has signed an agreement with MasterCard Worldwide to provide PaySecure, Acculynk’s internet PIN debit solution, to US financial institutions that issue Debit MasterCard cards.
PaySecure is an optional cardholder verification method for PIN-based e-commerce transactions. The agreement will enable participating financial institutions to expand and enhance their e-commerce authentication methods with PaySecure via the MasterCard Worldwide network.
According to Acculynk, 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 have to enter their PIN using their mouse on Acculynk’s patented, graphical PIN-pad to complete the transaction.
Ashish Bahl, CEO of Acculynk, said: “PaySecure offers US 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. Our agreement with MasterCard allows us to offer this option to a selection of financial institutions that offer PIN entry on Debit MasterCard cards.”
Patricia Preston, group head for debit product management at MasterCard, said: “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. With PaySecure, we are offering our customers another tool intended to enhance security for online payments.”