Shazam selects Acculynks PaySecure internet PIN debit technology

In the summer of 2009, Shazam has revealed its intentions to take part in an online PIN debit pilot program which relied on technology from Acculynk. As a result of the initiative, Shazam conducted a pilot program where participating financial institutions tested Acculynks internet PIN debit technology. Based on the results, Shazam began enabling more debit/ATM cards for PaySecure in Q4 2010. Furthermore, Shazam will add nearly all eligible debit/ATM cards in their issuing portfolio.

When paying with PaySecure at a merchant checkout, customers must enter their card number, expiration date and card verification number. After they submit the card information, PaySecures internet PIN debit service is able to detect whether a customers card can be used with a PIN. If this is possible, a graphical, scrambling PIN-pad appears on the computer screen and asks whether the customer would like to process the transaction as PIN debit. If yes, the customer must click continue and enter the PIN onto the PIN-pad using the mouse or touchpad. When finished, the client clicks continue and the transaction is processed. The PIN pad numbers appear on the purchaser’s computer monitor randomly and the numbers will re-arrange each time the cardholder clicks on a digit of the PIN.

In February 2010, Acculynk established the Internet PIN Debit Advisory Council with its partner EFT networks, including ACCEL/Exchange, Alaska Option, Credit Union 24, Pulse and Shazam. The Council will seek to establish the processes, procedures, rules and best practices around the company`s internet PIN debit service PaySecure.