As a result of the deal with Acculynk, Alaska Option will bring PaySecure to nearly 900,000 Alaska Option cardholders over the US. The PaySecure 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, Acculynks graphical PIN-pad is to be displayed at the merchant checkout, allowing the customers to enter their PIN.
Accel/Exchange, a subsidiary of information management and electronic commerce systems developer Fiserv, Credit Union 24, NYCE, PULSE and SHAZAM are the other five PIN-debit networks that have already announced their involvement in the PaySecure pilot.
Editors notes: In the context of a plethora of alternative payment methods invading the market, PIN debit technology has enough potential for fast online adoption, since it offers consumers the convenience of paying with a card they already have and a PIN only they already know and use for offline purchases as well.
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