Acculynk Bringing PaySecure to the Mobile Channel

January 19, 2011 08:48 AM Eastern Time 

PaySecure, the first software-only service for PIN debit payments on the Internet, will be available on mobile phones in Q1

ATLANTA--(BUSINESS WIRE)--Acculynk announced today that it is bringing the security and convenience of its PaySecure^® Internet PIN debit product to mobile smartphones early this year.

The growing prevalence of mobile transactions coupled with merchant demand prompted Acculynk to extend the capabilities of PaySecure beyond the Internet channel.PaySecure Mobile will allow consumers to authenticate their transactions by entering their bank-issued PIN on Acculynk’s graphical, scrambling PIN-pad, which has been specially designed for mobile smartphone platforms.

“We were approached by major merchants last year wanting to know how PaySecure would fit with their developing mobile channels, so we started work on a mobile application,” said Ashish Bahl, CEO of Acculynk. “After several months of development, we’ll be ready to launch PaySecure mobile in Q1 2011, allowing our merchants and partners to benefit from the higher security of PaySecure in not just one but two major purchasing channels. Additionally, PaySecure Mobile is well positioned to add an additional layer of authentication to NFC payments on smartphones, since the phone is something you have but the PIN offers something you know.”

PaySecure Mobile is built on Acculynk’s patented encryption and authentication platform, which is also the backbone of Acculynk’s PaySecure Internet PIN debit product. Introduced in March 2009, PaySecure Internet PIN debit is today supported by 9 U.S. EFT networks and implemented on over 1,000 U.S. merchant websites.

But Acculynk is looking beyond Ecommerce payments in 2011, with new applications for PaySecure including money transfer, Peer to Peer (P2P) authentication, online banking authentication, and PIN debit entry on a kiosk.

“In 2010, we established PaySecure as the standard for PIN debit payments on the Internet, with a growing base of merchants, issuers and EFT networks,” said Bahl. “In 2011, our goal is to expand the channels where PIN debit can be accepted, like a mobile phone and even kiosks – giving consumers a consistent payment experience and merchants lower fraud and lower costs – while introducing new applications for the product within those channels, such as P2P payments and online banking authentication.”

PaySecure Mobile will be available on the iPhone, Android, Blackberry and Windows-7 platforms.

About Acculynk

Acculynk secures online transactions with a suite of software-only services backed by a patented authentication and encryption framework provide greater security for issuers, EFT networks, merchants and payment processors. Acculynk has introduced the first software-only service for Internet PIN debit payments, PaySecure^®, which utilizes a graphical PIN-pad for the secure entry of a consumer’s PIN. PaySecure is currently enabled on over 1,000 merchant websites. Acculynk has partnerships with 9 EFT networks to process PaySecure transactions and with six leading payment processors to distribute the product. Visit http://www.acculynk.com.

Contacts

Acculynk
Danielle Duclos, 678-894-7013
press@acculynk.com

Permalink: http://www.businesswire.com/news/home/20110119005996/en/Acculynk-Bringing-PaySecure-Mobile-Channel
http://acculynk.com http://www.paysecure.com

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E-Commerce Report 2010 from Deutsche Card Services

E-Commerce Report 2010 – Trends in Consumer and Payment Behaviour in E-Commerce on the Basis of Real-Life Transactions

In 2010 the E-Commerce Report (formerly known as "Pago Report") has been published for the ninth time.

The E-Commerce Report is based on the evaluation of more than 24 million real-life purchase transactions processed on the Deutsche Card Services platform between October 2008 and September 2009. The annual study has established itself as one of the most important e-commerce surveys all over Europe because it is the only report based on real transactions instead of interviews. All evaluated data were fully anonymised, and all data protection precautions were duly carried out.

In co-operation with experts from a popular market research institute, purchasing and payment behaviour of consumers from Germany, UK, the rest of Europe, and the non-European countries were analysed using established statistical methods. The result is an comprehensive insight into the status quo in e-commerce concerning purchasing and payment behaviour, non-payment risk and industry specifications.

The E-Commerce Report 2010 is available in the [Shop] for 500 euros plus VAT.

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GAP Fills China "Gap" With Four Stores And Online Shopping

Image via Wikipedia

China Entry is a Cornerstone of Gap Inc.’s Global Expansion Plan

SHANGHAI--(BUSINESS WIRE)--Gap Inc. (NYSE:GPS) announced today the debut of its first four wholly owned contemporarily designed Gap stores in China, bringing Gap’s modern, accessible style to Chinese consumers for the first time. Each store will house all Gap collections: Gap, GapKids, baby gap and Gap Body. An online retail store is also launching today – www.gap.cn, making Gap clothes immediately available to all customers throughout China.

“Each store offers customers great service by a team of highly-trained staff. Greeters welcome Gap customers at the entrance and each collection has dedicated specialists to assist shoppers. All four stores offer Denim Fit sessions by appointment”

“Gap is the first American retailer in China to offer a single style destination for the entire family. We are excited to introduce Gap’s cool, modern American designs to Chinese consumers. I believe customers will be extremely pleased with fit, quality and the affordable style of our clothes, including our newest and most successful product, the 1969 Premium Jean,” said Redmond Yeung, President of Gap China.

Shanghai:

Gap is opening its first flagship store in Shanghai on November 11. This is a 1,140 square meter space in Hong Kong Plaza on Mid Huaihai Road, one of Shanghai’s premier shopping high streets. A second flagship store, occupying two floors in the Venture Tech building on the premier Nanjing West Road, will open in the next several weeks.

Beijing:

Gap will open two stores in Beijing on November 13. The first is a two-storied flagship store spanning 1,165 square meters in the APM Building on Wanfujing Street, and a second 1,800 square meter store in Chaobei Joy City, located in the eastern part of Beijing.

“Each store offers customers great service by a team of highly-trained staff. Greeters welcome Gap customers at the entrance and each collection has dedicated specialists to assist shoppers. All four stores offer Denim Fit sessions by appointment,” noted Lorenzo Moretti, Managing Director of Gap China.

Gap is opening the stores around the theme of “Let’s Gap Together,” celebrating the coming together of China and the U.S., and our shared spirit of creativity and individual expression. To commemorate this special occasion, world-famous photographer, Annie Leibovitz photographed a series of portraits pairing iconic Chinese and American leaders in their fields such as Zhou Xun, a Chinese actress who is devoted to sustainable development and Philippe Cousteau Jr., an environmentalist and grandson of Jacques Cousteau. These images can be seen in the stores and on outdoor advertising in each city. For images: www.gap.cn.

The arrival of Gap stores in China, the most populous country in the world, is a cornerstone of Gap Inc.’s global expansion strategy. Gap invested in extensive, multi-year market research and this entry marks the beginning of a long-term, multi-channel strategy that will eventually result in more stores throughout the country.

About Gap Inc.

Gap Inc. is a leading global specialty retailer offering clothing, accessories, and personal care products for men, women, children, and babies under the Gap, Banana Republic, Old Navy, Piperlime, and Athleta brands. Fiscal 2009 sales were $14.2 billion. Gap Inc. operates about 3,100 stores in the United States, Canada, the United Kingdom, France, Ireland, Japan and China. In addition, Gap Inc. is expanding its global presence with franchise agreements in Asia, Australia, Europe, Latin America, and the Middle East. For more information, please visit www.gapinc.com.

History

Gap was founded in 1969 in San Francisco, California by Doris and Don Fisher. Their goal? To make it easier for customers to find a great fitting pair of jeans and an easy-to-shop store experience. This philosophy lives on at Gap. We offer modern, cool clothing and accessories that help customers express their own individual sense of style.

Today, the brand continues its history of providing authentic style, celebrating creativity and making a difference. We recently introduced 1969 Premium Jeans. Building on 40 years of denim experience, Gap reinvented the premium denim category by delivering superior fit, finishes and detail.

Gap is committed to delivering quality items that people expect from our brand — including denim, khaki and knits in great styles and colors.

Contacts

Gap Inc.
Media Relations
Louise Callagy, +1-415-427-2350
press@gap.com
or
Investor Relations
Aina Konold, +1-415-427-4454

Permalink: http://www.businesswire.com/news/home/20101110007368/en/Gap-Enters-China-Stores-Online-Shopping

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Related articles

• Gap Enters China With Four Stores And Online Shopping (eon.businesswire.com)
• Gap, Its U.S. Sales Tepid, Joins the Rush to China (nytimes.com)
• Gap Inc. Outlines Comprehensive China Market Entry Plans, Starting With Four Gap Brand Stores and Online Shopping Site in Late 2010 (eon.businesswire.com)