NetWorks, a non-profit processing organization, has signed an agreement with Acculynk to provide the company’s Internet PIN debit solution, PaySecure, to its 300 member banks and credit unions.
With PaySecure, consumers enter their PIN on Acculynk’s graphical PIN-pad at the merchant checkout, and require their existing debit card and PIN to complete the transaction.
The solution eliminates the need of hardware devices, passwords, enrollment, online banking authentication, or redirection to another website for payment.
NetWorks president Cathy Morrissey said, “PaySecure gives cardholders another choice of how they use their debit card online, while providing our members a value-added, secure payment service that helps lower fraud and charge-backs.”
Acculynk CEO Ashish Bahl said that the PIN debit is a trusted, familiar payment process at the retail point of sale that is finally available as a standard Internet payment option with PaySecure.
NetWorks is said to process more than 13 million transactions a month from locations around the globe, and drives, supports and monitors over 1,500 ATMs.