The ACCEL/Exchange Network, the payments network of Brookfield, Wis.-based Fiserv, will begin processing and offering secure Internet Personal Identification Number (PIN) debit transactions in November 2009, making it the first payments network to do so, the company claims. The new solution is the result of a partnership with Acculynk (Atlanta), provider of a software-only service that enables PIN debit payments online.
ACCEL/Exchange, provides payments access to more than 2,500 members and their cardholders. It recently completed a joint pilot program with Acculynk and its PaySecure product. The pilot began in March 2009 and was initiated to validate successful and accurate processing of secure Internet PIN debit transaction activity.
Consumers who have been using their debit card and PIN at retailers will now have an easy-to-use and secure way to use their debit card and PIN online without having to be redirected to another site, the company says.