Atlanta, Feb. 14, 2011 -- Acculynk, provider of PaySecure®, the only software service in the U.S. that enables PIN debit payments on the Internet, today announced that First Data Corporation, a global leader in electronic commerce and payment processing, will offer its online merchants PaySecure through First Data’s eCommerce payment processing platforms.
With online fraud on the rise, this solution adds a security measure that merchants can offer their customers during the checkout process. In fact, according to Javelin Strategy and Research’s 2010 Identity Fraud Survey Report, card‐not-present fraud through online purchases rose for the third year in a row to 42 percent in 2009, from 37 percent in 2008 and 28 percent in 2007.
“With PaySecure, we will be able to provide our online merchants another security tool that will reduce fraud, increase savings and provide consumers with another choice that’s already a familiar payment method,” said Souheil Badran, First Data senior vice president and division manager, eCommerce Solutions. “By augmenting PaySecure into our current fraud and security offerings, First Data offers one of the most robust and secure eCommerce platforms in the market. Plus, it is simple for our merchants to implement and for their customers to use during the online checkout process.”
PaySecure brings the security and convenience of PIN debit to the Internet with a patented, graphical PIN-pad that appears over the merchant checkout for the option of PIN entry. Consumers can pay with participating debit cards and a PIN, just like they would use PIN debit at the retail point of sale, and there is no enrollment required or redirection from the merchant’s payment page.
“PaySecure, in use by major eCommerce merchants and airlines, allows a merchant to leverage their existing payment channels, and unlike many other payment methods, it brings immediate consumer adoption,” said Ashish Bahl, CEO of Acculynk. “First Data is integrating PaySecure into their environment to simplify the merchant adoption and rollout process.”
Acculynk offers a suite of software-only services that secure online transactions. PaySecure®, Acculynk’s flagship payment product, capitalizes on the security and convenience of PIN debit to lower online fraud and associated costs for Ecommerce merchants, bank issuers and EFT networks, while providing new sources of incremental sales. PaySecure is available through the Internet, mobile and kiosk channels and Acculynk has distribution partnerships with 9 EFT networks and major merchant acquirers. Over 3,000 U.S. Ecommerce merchants have been enabled for PaySecure, and Acculynk is extending the benefits of PaySecure to international markets and additional product applications in 2011. For more information, visit http://www.acculynk.com .
About First Data
Around the world, every second of every day, First Data makes payment transactions secure, fast and easy for merchants, financial institutions and their customers. First Data leverages its vast product portfolio and expertise to drive customer revenue and profitability. Whether the choice of payment is by debit or credit card, gift card, check or mobile phone, online or at the checkout counter, First Data takes every opportunity to go beyond the transaction.
Source: Company press release.
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