Internet PIN-debit once was seen as a way for merchants to earn a cheaper interchange rate on card-not-present transactions conducted online. That benefit, however, disappeared when the Federal Reserve Board recently cut the fees banks can charge merchants who accept debit cards. The new fees go into effect Oct. 1.

Now companies such as Acculynk Inc. and Adaptive Payments are repositioning their products to financial institutions as a way to convert fraud-prone signature-debit transactions to the more-secure PIN-debit format.

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