Accel/Exchange, an electronic funds transfer network, owned by information management and electronic commerce systems developer Fiserv, is to begin processing and offering online PIN debit transactions.

This is the result of a PIN debit pilot programme initiated in March 2009 by Accel/Exchange and Acculynk, a US payment services provider, to assess consumer acceptance of internet-based PIN debit transactions.

In November 2009, the network will make Acculynk`s PaySecure system available to its member base. The platform allows consumers to use their PIN debit cards to pay for online purchases. When paying with a debit card at a merchant checkout, customers must enter their card number, expiration date and card verification number. After they submit the card information, PaySecure detects whether the card can be used with a PIN. In this case, Acculynk's graphical PIN-pad is to be displayed at the merchant checkout, allowing the customers to enter their PIN.

Accel/Exchange delivers funds and payments access to its 2,500 members and their cardholders. Alaska Option, Credit Union 24, NYCE, PULSE and SHAZAM are the other five PIN-debit networks currently participating in Acculynk's online PIN debit pilot programme.

Editor's notes: Encouraged by the pilot`s success, these five networks will probably follow Accel/Exchange`s steps. Some observers have already voiced concern about newer types of threats and although merchants can increase revenue by tapping consumers who avoid shopping online due to credit card-related fears, in the end consumer acceptance will be the key.