A new agreement with cloud-based e-commerce provider Digital River Inc. will enable Acculynk Inc. to provide more merchants access to its PaySecure online PIN-debit payment method, the Atlanta-based company announced April 30.
Under the agreement, merchants may use Minnetonka, Minn.-based company’s e-commerce payments service to access the PaySecure software, the company said in a press release. Acculynk provides PaySecure on 3,000 merchant websites.
Digital River boasts of handling more than $8 billion in global sales, stemming from more than 300,000 daily orders originating from 180 countries. Digital River did not disclose how many merchants it serves.
With PaySecure, online shoppers enter their PIN on a virtual PIN pad that pops up during the checkout process on the participating merchant’s website. PaySecure is designed to provide an extra layer of security for debit card transactions by screening the cards for PIN eligibility before the transaction, the company stated.
“Interest in Internet PIN debit from online-commerce merchants is surpassing our expectations as debit continues to be an increasingly popular payment method for consumers,” Ashish Bahl, Acculynk CEO, stated in the release.
Late last year, Acculynk formed the International Internet PIN Acceptance Consortium to help it develop the PaySecure product in the international market (see story).
Acculynk touts PaySecure as being the first U.S. software service that enables consumers to use a PIN-debit card pay for online purchases. CardinalCommerce Corp. offers a similar product. Star, First Data Corp.’s electronic funds transfer network, recently signed a nonbinding letter of intent to participate in CardinalCommerce’s Universal PIN Debit Service (see story).
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