Wednesday, October 27, 2010

VeriFone® Teams up with PayPal for Mobile Payments

Image representing PayPal as depicted in Crunc...Image via CrunchBase

PayPal™ Bets it's Future on Mobile Payments
(Don't forget PIN Debit!)

SAN FRANCISCO--(BUSINESS WIRE)--INNOVATE 2010 -- At its second annual developer conference today, PayPal announced new mobile technologies and business relationships that will change the way people will shop and pay.
“Mobile commerce is the most significant change in retailing in the last century, and shopping will never be the same”
PayPal is a leader in mobile payments. The company offers mobile apps for iPhone®, Android® and Blackberry®, as well as tools to help developers and merchants build mobile-commerce solutions. PayPal expects more than $700 million in mobile payments to go through its system by the end of 2010.
“Mobile commerce is the most significant change in retailing in the last century, and shopping will never be the same,” said Osama Bedier, PayPal’s vice president of platform, mobile and new ventures. “PayPal is aggressively driving this change by redefining checkout on mobile devices for millions of consumers and businesses across the world.”
Mobile Express Checkout
PayPal announced the availability of Mobile Express Checkout, a secure two-click checkout experience on a mobile device. Consumers will have the ability to opt-in and remain logged in across apps to make purchasing even faster. The solution is easy to deploy for any merchants who already have Express Checkout on their online stores. Beta merchants have reported double-digit sales growth on their mobile stores after adding Mobile Express Checkout.
Starbucks will use Mobile Express Checkout for quick and easy reload of Starbucks Cards directly from its Starbucks Card Mobile app for iPhone and iPod touch®.
Beta merchants have reported double-digit sales growth on their mobile stores after adding Mobile Express Checkout. PayPal also announced that guest payments, the ability to accept credit card payments in addition to PayPal, will be integrated into Mobile Express Checkout in the first quarter of next year.
Mobile Payments Library
PayPal is adding key functionality to the Mobile Payments Library by supporting preapproved, chain and split payments. Developers can now use preapproved payments for subscription-based business models and use split and chained payments to take a cut of transactions between buyers and sellers. As with Mobile Express Checkout, consumers can opt-in and remain logged in across apps to make purchasing even faster.
PayPal Mobile for iPhone® 3.0
A new location-based feature allows PayPal iPhone app users to find businesses accepting PayPal wherever they happen to be. Merchants can attract nearby customers to their stores by sending deals and promotions to customers’ phones, and customers can pay for goods or services at local outlets with PayPal or a BlingTag® from Bling Nation. This new local service is initially available in beta in the San Francisco Bay Area. Interested merchants or service providers can sign up at www.paypal-labs.com/local.
VeriFone®
VeriFone is joining the PayPal developer ecosystem and will be the first device manufacturer to collaborate with PayPal to offer merchants the ability to take credit card and PayPal payments anywhere using its PAYWare mobile merchant app. The new service will also let customers “bump to pay” using functionality from Bump Technologies built into the PayPal app and the PAYWare app. This will allow the millions of PayPal merchants who have both an online and offline presence to accept payments wherever they happen to be.
Appcelerator®
PayPal has teamed up with Appcelerator, the leading platform for mobile, desktop and iPad™ applications, to make it easy for PayPal’s 8 million merchants to create mobile commerce apps. Appcelerator allows merchants to build apps on all three major mobile platforms (iOS, Android™ and BlackBerry®) from one Web code base. PayPal and Appcelerator expect to launch the joint mobile commerce offering in 2011.
About PayPal Mobile
PayPal, a division of eBay Inc. (Nasdaq:EBAY), has been delivering mobile payments since 2005 and has a mobile app for iPhone, Android and BlackBerry smartphones, as well as SMS and WAP-based payments solutions. PayPal offers merchants an easy way for shoppers to checkout on mobile websites via Mobile Express Checkout and mobile developers can use PayPal for in-app payments using PayPal's Mobile Payments Library. In 2009, $141 million in payments were transacted over PayPal's mobile applications and PayPal expects to close out 2010 with more than $700 million in mobile payment volume from 5 million PayPal members worldwide.
eBay Inc. launched its first application for the iPhone in July 2008 and has since become a leader in mobile commerce. Its core iPhone application, which is available free via iTunes® in eight languages and 190 countries, has been downloaded more than 12 million times and allows users to fully browse and buy without leaving the application. The eBay app for the iPad debuted in the top ten most downloaded free iPad apps in the iTunes Store and delivers a dramatically different, visually compelling shopping experience to browse and purchase the vast selection of products available on eBay. eBay’s suite of mobile apps, including Selling, Classifieds, StubHub and Deals, make selling and buying possible virtually anywhere, anytime. In 2009, eBay’s mobile gross merchandise volume (GMV) – the value of all goods sold – was more than $600 million. eBay expects to generate $1.5 billion in GMV through mobile commerce in 2010. For more information on eBay mobile, visit www.ebay.com/mobile.
This announcement contains forward-looking statements relating to the future performance of eBay’s businesses that are based on its current expectations, forecasts and assumptions. These statements include, but are not limited to, statements regarding future growth in mobile commerce. Those statements involve risks and uncertainties, and actual results may differ materially from those discussed. Factors that could cause or contribute to such differences include, but are not limited to, consumer acceptance and use of eBay’s mobile applications.
More information about potential factors which could affect our business and results is included in eBay's Annual Report on Form 10-K for the year ended December 31, 2009, its Quarterly Reports on Form 10-Q, its Current Reports on Form 8-K, and other periodic filings. All forward-looking statements are based on information available to eBay on the date hereof, and eBay assumes no obligation to update such statements.
All designated trademarks and brands are the property of their respective owners.

Contacts

PayPal
Anuj Nayar, 408-967-5730
Director, Global Communications at PayPal
anayar@paypal.com
or
Access Communications for PayPal
Meagan McCrystle, 415-516-3029
mmccrystle@accesspr.com
Permalink: http://www.businesswire.com/news/home/20101026006316/en/PayPal%E2%84%A2-Developers-Push-Mobile-Mainstream

Related articles
Enhanced by Zemanta
Posted by at
Labels: , ,

Tuesday, October 26, 2010

Acculynk Announces Eric M. Hoffman as Executive Vice President of National Merchant Sales

Acculynk Announces Executive Vice President of National Merchant Sales

Atlanta, GA, October 20, 2010 –ePayment News Blog-  Acculynk today announced that Eric M. Hoffman, former Senior Vice President at Bank of America Merchant Services, has joined the company as Executive Vice President of National Merchant Sales.



Acculynk is the first provider of a software-only service for Internet PIN debit, PaySecure®, which is implemented directly into the merchant checkout page and gives online shoppers the option of using their bank-issued PIN to authenticate their debit card transaction.

Acculynk distributes PaySecure to Internet merchants through partnerships with leading payment processors, ISOs and pay page providers. As Executive Vice President of National Merchant Sales, Mr. Hoffman will manage Acculynk‟s primary distribution channels and develop new business in the form of reseller partnerships and acquisition of top-tier eCommerce merchants.

“PaySecure‟s lower fees, lower fraud and incremental volume has created a high demand with U.S. merchants. Leading acquirers who are working to retain current clients and gain new business are seeing PaySecure as an ideal „product‟ hook,” said Mr. Hoffman. “I am excited to be a part of what has quickly become the standard for Internet PIN debit.”

As Senior Vice President at Bank of America Merchant Services, Mr. Hoffman was responsible for leading the company‟s eCommerce sales organization and developing corporate strategy within the recenlty formed joint venture between First Data & Bank of America. Previous to the joint venture Mr. Hoffman held the role of Senior Vice President, Strategic Accounts at First Data where he managed many of the company‟ largest issuer relationships. Prior to First Data, Mr. Hoffman held senior leadership positions at WildCard Systems, Inc., and Kessler Financial Services.

“Eric comes to Acculynk with substantial experience managing channels and selling to the most premier eCommerce merchants,” said Ashish Bahl, CEO of Acculynk. “His knowledge, skills and personality are an exact fit with what we were looking for in this newly created role, and we are pleased he has chosen to join our progressive team.”

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 product 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.

Contact:

Danielle Duclos, Acculynk

(678) 894-7013, press@acculynk.com
Related articles
Enhanced by Zemanta
Posted by at

VeriFone Extends Mobile Payments Acceptance with PayPal

Traditional Card Payments to Integrate with PayPal Mobile Payments

PayPal Mobile App to Work with VeriFone’s PAYware Mobile for iPhone
VeriFone’s App to Support Bump
SAN FRANCISCO--(BUSINESS WIRE)--VeriFone Systems, Inc. (NYSE: PAY) today announced that it will expand PayPal payment acceptance in the mobile environment and further integrate the worlds of online and traditional card-based payments.
http://www.verifone.com“VeriFone is a proven leader in payments point of sale and we're excited to have them in the PayPal ecosystem”
During PayPal X Innovate 2010, the companies showcased the planned integration of PayPal payment with VeriFone’s PAYware Mobile card encryption sleeve for iPhone and announced:
  • PayPal’s merchant acceptance application will be enhanced to support traditional card-based payments using VeriFone’s PAYware Mobile card encryption
  • The PAYware Mobile App will be enhanced to support PayPal Bump technology that enables iPhone users to bump their phones together to transfer money between them
  • VeriFone will, upon integration, promote PayPal and Bump acceptance to its vast reseller channel
  • PayPal will market VeriFone’s PAYware Mobile to its user base
  • The planned integration by VeriFone will enhance its PAYware Connect payment gateway service to provide merchants with integrated transaction reports for PayPal and traditional card payments
“Rapid adoption of mobile payments makes it possible to further align PayPal payments with traditional card-based transactions at the physical point of sale,” said Jeff Dumbrell, VeriFone executive vice president.
“VeriFone is a proven leader in payments point of sale and we're excited to have them in the PayPal ecosystem,” said Osama Bedier, PayPal’s vice president of platform, mobile and new ventures. “Online and offline are quickly converging and, with this new business relationship, both merchants and consumers will benefit, upon integration, from the ability to use the mobile wallet anytime, anywhere.”
The integrated capabilities are expected to be available next year.
About VeriFone Systems, Inc. (www.verifone.com)
VeriFone Systems, Inc. (“VeriFone”) (NYSE: PAY) is the global leader in secure electronic payment solutions. VeriFone provides expertise, solutions and services that add value to the point of sale with merchant-operated, consumer-facing and self-service payment systems for the financial, retail, hospitality, petroleum, government and healthcare vertical markets. VeriFone solutions are designed to meet the needs of merchants, processors and acquirers in developed and emerging economies worldwide.

Contacts

VeriFone
Pete Bartolik, 508-283-4112
pete_bartolik@verifone.com
Permalink: http://www.businesswire.com/news/home/20101026005862/en/VeriFone-Extends-Mobile-Payments-Acceptance-PayPal
Posted by at
Labels: , , ,

Discover Financial Services and Moneris Solutions Announce Canada Agreement

http://www.discoverfinancial.comDeal to expand Discover acceptance footprint in Canada
RIVERWOODS, Ill. & TORONTO--(BUSINESS WIRE)--Discover Financial Services and Moneris Solutions, Canada’s largest merchant acquirer, today announced the signing of an agreement to expand Discover acceptance in Canada. Beginning next year, the deal will provide Moneris Solutions merchant customers with access to the millions of cardmembers and billions in spending of the Discover and Diners Club International networks.
“We are excited to be the first payments processor to offer Discover acceptance to the merchant community in Canada”
"This relationship with Canada’s largest merchant acquirer marks a significant merchant growth opportunity for Discover in Canada,” said Gerry Wagner, Vice President of Global Acceptance at Discover. “We plan to aggressively expand our acceptance footprint in the coming years throughout Canada – a popular travel destination for our cardmembers – and provide cardmembers from all over the world with the ability to use their cards at merchants throughout the country.”
"We are excited to be the first payments processor to offer Discover acceptance to the merchant community in Canada,” said David Ades, SVP, Sales and Marketing at Moneris Solutions. “Discover provides a way for merchants to maximize their business growth opportunities through the millions of international travelers that enter Canada every year.”
About Discover
Discover Financial Services (NYSE:DFS) is a direct banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company operates the Discover card, America's cash rewards pioneer, and offers personal and student loans, online savings accounts, certificates of deposit and money market accounts through its Discover Bank subsidiary. Its payment businesses consist of Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation's leading ATM/debit networks; and Diners Club International, a global payments network with acceptance in more than 185 countries and territories. For more information, visit http://www.discoverfinancial.com.
About Moneris Solutions
As one of North America’s largest providers of payment processing solutions, Moneris offers credit, debit, wireless and online payment services for merchants in virtually every industry segment and processes more than three billion transactions annually. Through its Ernex division, Moneris offers electronic loyalty and stored-value gift card programs. With more than 350,000 merchant locations, Moneris provides the hardware, software and systems needed to improve business efficiency and manage payments. For more information, visit http://www.moneris.com.

Contacts

Discover
Laura Gingiss, 224-405-0185
lauragingiss@discover.com
or
Moneris Solutions
Santo Ligotti, 416-734-1583
santo.ligotti@moneris.com
Permalink: http://www.businesswire.com/news/home/20101026005424/en/Discover-Financial-Services-Moneris-Solutions-Announce-Canada
Posted by at

Credit Services Industry Posting Surprising Profits

The Bedford Report Provides Analyst Research on MasterCard & Capital One

NEW YORK, NY--(Marketwire - October 25, 2010) -  Investors have been watching the Credit Services Industry very closely this earnings season as companies have been adjusting to new regulatory laws. Legislation has restricted fees garnered by transactions when consumers use their cards for purchases. With consumers borrowing less and new legislation poised to negatively affect the credit card industry, companies have had to develop new revenue drivers. Then earlier this month, the Justice Department threw another set of hurdles at the industry. The Bedford Report examines the outlook for companies in the Credit Services Industry and provides research reports on MasterCard, Inc. (NYSE: MA) and Capital One Financial Corp. (NYSE: COF). Access to the full company reports can be found at:
Earlier in the month, the Justice Department filed suit against Visa, MasterCard and American Express, accusing them of violating antitrust laws. Visa and MasterCard agreed to settle, and will let merchants offer discounts to consumers who use cheaper types of credit or debit cards. Unbeknownst to many card holders, the fees that merchants must pay to processing networks can vary depending on the type of card being used. The Department of Justice claims that the credit card processors' practice of preventing merchants from giving discounts to customers who use smaller fee cards is an anti-competitive manoeuvre.
The Bedford Report releases regular market updates on the Credit Services Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us for free at www.bedfordreport.com and get exclusive access to our numerous analyst reports and industry newsletters.
Not mentioned in the Justice Department's suit was Capital One. Last week, COF announced third quarter earnings of $803 million, or $1.76 a share, compared with net income of $394 million, or 87 cents a share, in the year ago period. The company claimed that a decline in U.S. credit-card delinquencies helped boost profits.
The Bedford Report provides Analyst Research focused on equities that offer growth opportunities, value, and strong potential return. We strive to provide the most up-to-date market activities. We constantly create research reports and newsletters for our members. The Bedford Report has not been compensated by any of the above mentioned publicly traded companies. The Bedford Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at http://www.bedfordreport.com/disclaimer
Contact:
The Bedford Report
Email Contact
Posted by at
Labels: , ,

First Data and CardinalCommerce Launch New System for Alternative Payments

Source: CardinalCommerce Corporation
MENTOR, Ohio, Oct. 25, 2010 (GLOBE NEWSWIRE) -- CardinalCommerce and First Data Corporation, a global leader in electronic commerce and payment processing, today announced a new payment system for merchants using First Data's Compass payment processing solution. This new system will allow online merchants to use their existing credit and debit systems to seamlessly accept and process alternative payments transactions through services like PayPal Express Checkout.

This new system will significantly reduce the work required by merchants to accept PayPal and other alternative payment types in eCommerce environments. Previously merchants were required to maintain separate payment systems outside of their core credit and debit processing. By integrating with First Data's Compass solution and CardinalCommerce, merchants that accept PayPal now have the ability to process payments through their existing credit card infrastructure. In addition to streamlined processing, merchants are also able to easily combine order management, customer service and reporting of each alternative payment type within their core business.

"Success in the eCommerce marketplace requires the ability to seamlessly accept a broad range of payment types, including alternative payments like PayPal," said Souheil Badran, SVP and division manager, First Data. "First Data's integrated solution expedites implementation, adheres to compliance requirements and minimizes shopping cart abandonment."

First Data's Compass payment solution provides card-not-present merchants with a comprehensive suite of payment methods to accommodate the diverse needs of eCommerce merchants and their customers. The Compass solution delivers advanced capabilities designed to expand business globally, protect against fraud, lower cost, and simplify management and reporting.

"We are pleased to bring PayPal to online merchants utilizing CardinalCommerce and First Data's Compass solution," said Eddie Davis, senior director of strategic alliances at PayPal. "First Data enables payment processing for its millions of customers, and Cardinal Commerce is a PayPal-Certified Integration Partner. Together, we're providing merchants with the products and services they need to deliver a world-class transaction experience to their customers."

About First Data
First Data powers the global economy by making it easy, fast and secure for people and businesses to buy goods and services using virtually any form of electronic payment. Whether the choice of payment is a gift card, a credit or debit card or a check, First Data securely processes the transaction and harnesses the power of the aggregate data to deliver intelligence and insight for millions of merchant locations and thousands of card issuers in 36 countries. For more information, visit www.firstdata.com.

About CardinalCommerce
CardinalCommerce Corporation is the global leader in enabling authenticated payments, secure transactions and alternative payment brands for both eCommerce and mobile commerce.


The Cardinal Centinel® software platform enables payment brands, such as Verified by Visa, MasterCard® SecureCode™, Amazon Payments™, Bill2Phone™, Bill Me Later®, ClickandBuy®, Cred-Ex®, Ebates™, eBillme™, eLayaway™, Google™ Checkout, Green Dot® MoneyPak®, Mazooma™, Moneybookers, MyECheck, NACHA® Secure Vault Payments (SVP), NYCE® SafeDebit™, OneTouch Online Purchasing™, Paymate, PayPal™, paysafecard, RevolutionCard™, Rialto Pay SM, SafetyPay™, TeleCheck®, and Ukash™ , to a network of thousands of merchants and merchant service providers.
The Cardinal MAX™ mobile platform provides retailers, financial institutions and processors the ability to extend traditional commerce, marketing and banking into the mobile channel. Cardinal MAX™ Customers are able to safely and securely conduct business in the mobile space via SMS, mobile internet and mobile applications.


CardinalCommerce is headquartered in Cleveland, Ohio. With facilities in the United States, Europe and Africa, Cardinal services a worldwide Customer base. For more information, visitwww.cardinalcommerce.com.
The CardinalCommerce logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=697


CONTACT:  CardinalCommerce Corporation
          Media Contact:
          Tim Sherwin, Co-Founder, EVP, CMO
          877.352.8444
          Tsherwin@cardinalcommerce.com












Posted by



at



























Labels:
,
,
,

















          

        

          

        

Monday, October 25, 2010


          

        










Visa Opens World’s Leading Payments Network to Independent Developers










Image representing Authorize.net as depicted i...Image via CrunchBase


http://www.visa.com
Authorize.Net Developer Center Enhanced to Facilitate Creation of Innovative Electronic Payments Applications
SAN FRANCISCO--(BUSINESS WIRE)--Visa Inc. (NYSE: V) today announced a significant enhancement to the Authorize.Net Developer Center, a resource that enables independent developers to create applications supporting electronic payments and related services for major payment networks including VisaNet.
“Developer participation and feedback have played an integral part in making Authorize.Net what it is today”
The Developer Center builds on Authorize.Net’s existing platform, which Visa acquired as part of the purchase of CyberSource earlier this year.
By taking advantage of the enhanced Developer Center, developers will have at their fingertips the resources needed for rapid development and deployment of payment applications that extend the value and power of electronic payments for consumers, merchants and financial institutions. These can be created to run on a variety of devices, from PCs to smartphones, and could support applications including eCommerce transactions, mobile transactions, person-to-person payments and payments at the physical point of sale.
The Developer Center acts as a central community with tools and advice that developers at any level can use to readily connect through CyberSource to VisaNet along with other payments networks, and will be available free of charge.
The core of VisaNet, including the data centers that process transactions and perform authorizations and fraud detection, remains protected and highly secure. So while developers can draw on all the power of VisaNet, the network continues to provide the same high levels of security, reliability and speed that acquirers, merchants, issuers and cardholders expect.
Visa has spent decades creating VisaNet, one of the most robust, secure and reliable electronic payments infrastructures in the world. Until now, however, the ability to connect to VisaNet has been limited. This announcement represents a new commitment by Visa to make the most of the power of its network, by integrating CyberSource’s technology and the creativity and ideas of the global developer community.
“Visa has developed many innovative network-based payment products and services. But when you combine the power of our network, the resources of the Developer Center and the creativity of software developers, there’s no limit to the innovations that can emerge,” said Jim McCarthy, Global Head of Product for Visa. “Good ideas come from a variety of sources. We believe that opening our network to the developer community is critical to fueling innovation and driving one of Visa’s central goals, extending the benefits of digital payments to anyone, anywhere, using any device.”
Visa began opening its network more than a decade ago when it reconfigured VisaNet from proprietary technology to a network architecture based on open protocols. Through subsequent programs like Merchant Direct Exchange, Visa was able to establish point-to-point links between the payment acceptance systems of high-volume merchants and VisaNet to enable faster and simpler connectivity and customized authorization and file transfer programs.
New Features of the Authorize.Net Developer Center
Available today, the newest release to the Developer Center (http://developer.authorize.net) provides developers with comprehensive resources for adding payment functionality to their solutions including:
  • A new workflow which allows developers to register for an Authorize.Net test account, download software development kits (SDKs) in a variety of languages and process a test transaction—in effect, be ready to accept payments—all in 15 minutes or less.
    • 

  • New ways to connect to Authorize.Net, including new SDKs and a new integration method that simplifies merchants’ Payment Card Industry Data Security Standard (PCI DSS) compliance. Easier connections and more options are all designed to allow developers, experienced to novice, to more easily and quickly integrate to Authorize.Net.
    • 

  • New sample applications which provide developers with templates for rapid development of payment applications and tools.
    • 

  • A new blog featuring Authorize.Net employees, developers and industry experts for sharing of ideas and best practices.
    • 

“Developer participation and feedback have played an integral part in making Authorize.Net what it is today," said John Bodine, Authorize.Net Vice President. “We are committed to equipping developers with reliable, high quality payment development tools that will allow them to create solutions across all payment brands. Our goal is to ensure we support the broadest array of innovations – whether a developer is integrating a website, building a mobile application, or launching a market-facing solution, we want the Authorize.Net Developer Center to be a valued resource, providing the information and tools they need to make their solutions successful.”
The enhanced Authorize.Net Developer Center is available today and located at http://developer.authorize.net. It is free to all visitors. A brief registration is required to participate in the community forum.
About CyberSource Corporation: CyberSource, a wholly-owned subsidiary of Visa Inc., is a payment management company. Over 300,000 businesses worldwide use CyberSource andAuthorize.Net brand solutions to process online payments, streamline fraud management, and simplify payment security. The company is headquartered in Mountain View, California with international offices in Reading, U.K.; Singapore; and Tokyo. CyberSource operates in Europe under agreement with Visa Europe. For more information, please visit www.cybersource.com.
About Visa Inc.: Visa Inc. is a global payments technology company that connects consumers, businesses, financial institutions and governments in more than 200 countries and territories to fast, secure and reliable digital currency. Underpinning digital currency is one of the world’s most advanced processing networks—VisaNet—that is capable of handling more than 10,000 transactions a second, with fraud protection for consumers and guaranteed payment for merchants. Visa is not a bank, and does not issue cards, extend credit or set rates and fees for consumers. Visa’s innovations, however, enable its financial institution customers to offer consumers more choices: Pay now with debit, ahead of time with prepaid or later with credit products. For more information, visit www.corporate.visa.com.
Contacts
for Visa Inc.

Paul Wilke, 415-881-7995

pwwilke@visa.com
Permalink: http://www.businesswire.com/news/home/20101025005447/en/Visa-Opens-World%E2%80%99s-Leading-Payments-Network-Independent



Related articles
Enhanced by Zemanta










Posted by



at











































          

        

          

        

Thursday, October 14, 2010


          

        










PaySecure Internet PIN Debit on Track with U.S. Financial Institutions











Significant issuer benefits and nine EFT network partnerships spur bank and credit union adoption




    Quote start“Debit card usage is on the rise, both at the POS and online. Issuers want to leverage this growth economically, and that’s where PaySecure comes in,” said Ulrike Guigui, Executive Vice President of Issuer Development, Acculynk.Quote end
    Atlanta, GA (PRWEB) October 13, 2010
    In this uncertain regulatory climate, U.S. issuers are under pressure to not only retain current customers, but to expand their product portfolio with revenue-generating services that bring value to consumers (BAI RDC Booth # 309).
    Last year, technology provider Acculynk introduced the first software-only service for PIN debit payments on the Internet, PaySecure®, providing consumers the choice to authenticate their online transaction with their bank-issued PIN using PaySecure’s patented, graphical PIN-pad.
    Since its introduction, PaySecure has grown to encompass partnerships with nine U.S. EFT networks that are making PaySecure available across their issuer base. In a time of increasing concern over the expenses associated with supporting debit cards, PaySecure’s value proposition of reduced fraud and charge-backs, simple enablement, and increased transaction volume from security-conscious consumers, and those that prefer PIN debit or have PIN-only debit cards, has led to the adoption of PaySecure by thousands of issuers.
    “Debit card usage is on the rise, both at the POS and online. Issuers want to leverage this growth economically, and that’s where PaySecure comes in,” said Ulrike Guigui, Executive Vice President of Issuer Development, Acculynk. “PaySecure is a true, bank-sponsored alternative that is used with a consumer’s existing debit card that the bank or credit union has already issued, so there are no new cards, passwords or tokens that the issuer needs to provide. To offer the PaySecure option to cardholders, an issuer simply provides the bank identification numbers (BINs) of the debit cards they wish to enable for PaySecure.”
    To date, ACCEL/Exchange, Alaska Option, Credit Union 24, Jeanie, MasterCard, NetWorks, NYCE, PULSE and SHAZAM have partnered with Acculynk to provide PaySecure to their issuers. Over 6,000 financial institutions across 5 EFT networks have been enabled for PaySecure, with that number expected to double in the next 6 months.
    “We immediately saw the value to our issuing base with PaySecure,” said Michael Kelly, General Manager of ACCEL/Exchange. “It offers a higher level of security, it leads to better margins for issuers and it costs nothing for an issuer to participate. Issuers can give cardholders another choice of how they pay with their debit card while saving money on fraud, without any technology changes.”
    Acculynk is building on its PaySecure Internet PIN debit product to provide more features and extensions. Plans are underway to enable a consumer opt-in overdraft capability on the PIN-pad, and to leverage the PaySecure PIN-pad for online banking authentication. Stop by Acculynk’s booth, #309, at the BAI Retail Delivery Conference to see a demonstration of PaySecure and learn more about this bank-sponsored payment method.
    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. Visithttp://www.acculynk.com.
    Contact:
    
Danielle Duclos
    
Acculynk
    
(678) 894-7013
    
press(at)acculynk(dot)com
    # # #
    

    

    

    

    

Posted by



at


















    


    

    

    

Labels:
,
,
,



    

    



    

    

    

    

    

    





    
MasterCard Teams with Acculynk to Give Issuers Option to Use PaySecure for Enhanced Debit E-Commerce Authentication

    

    

    

    

    

    MasterCard Teams with Acculynk to Provide Internet PIN Debit to U.S. Financial Institutions that Issue Debit MasterCards'
    PaySecure provides consumers the option to use PIN debit on the Internet with a secure, software-only service that requires no enrollment or redirection
    

    ATLANTA--(BUSINESS WIRE)--Acculynk announced today an agreement with MasterCard Worldwide (NYSE: MA) to provide PaySecure®, Acculynk’s Internet PIN debit solution, to U.S. financial institutions that issue Debit MasterCard cards.
    “PaySecure offers U.S. consumers the option to use PIN debit on the Internet with a secure, software-only service that requires no enrollment or redirection from the merchant checkout”
    PaySecure is an optional cardholder verification method for PIN-based e-commerce transactions. In keeping with MasterCard’s commitment to innovation in debit, the agreement provides participating financial institutions an opportunity to expand and enhance their e-commerce authentication methods with PaySecure via the MasterCard Worldwide Network.
    “PaySecure offers U.S. consumers the option to use PIN debit on the Internet with a secure, software-only service that requires no enrollment or redirection from the merchant checkout,” said Ashish Bahl, CEO of Acculynk. “Our agreement with MasterCard allows us to offer this option to a selection of financial institutions that offer PIN entry on Debit MasterCard cards.”
    “In order to provide our customers with additional choice and flexibility for securing online purchases, MasterCard customers can now opt to use the PaySecure Solution for their debit cardholders,” said Patricia Preston, Group Head, Debit Product Management, MasterCard. “With PaySecure, we are offering our customers another tool intended to enhance security for online payments.”
    PaySecure appears as a payment option at an enrolled online merchant’s checkout screen when the consumer’s debit card is issued by a financial institution that has enrolled its cards in the PaySecure service. Rather than typing in their PIN, consumers enter their PIN using their mouse on Acculynk’s patented, graphical PIN-pad to complete the transaction.
    About Acculynk
    Acculynk secures online transactions with a suite of software-only services backed by a patented authentication and encryption framework. Acculynk’s services provide greater security and return on investment for issuers, EFT networks and merchants. Acculynk is the first company to introduce a software-only service for Internet PIN debit payments, PaySecure®. PaySecure is enabled on over 1,000 merchant websites, and Acculynk has partnerships with 9 EFT networks to process PaySecure transactions. For more information, visit http://www.acculynk.com.
    Contacts
    Acculynk
    
Danielle Duclos, 678-894-7013
    
press@acculynk.com
    
or
    
MasterCard
    
Joanne Trout, 914-249-6848
    
joanne_trout@mastercard.com
    Permalink: http://www.businesswire.com/news/home/20100728005857/en/MasterCard-Teams-Acculynk-Give-Issuers-Option-PaySecure
    Related articles by Zemanta

    

    
Read more: http://pindebit.blogspot.com/2010/07/mastercard-teams-with-acculynk-to.html#ixzz11nxanG5M    

    

    

    

    

Posted by



at


















    


    

    

    



    

    



    

    

    

    

        
    
      

    


    

    

    
Subscribe to:
Posts (Atom)

    

    

    

    

    



    

    

    

    Disqus for ePayment News