Acculynk announced that it is bringing the security andconvenience of its PaySecure Internet PIN debit product to mobilesmartphones early this year.
PaySecure Mobile will allow consumers to authenticate theirtransactions by entering their bank-issued PIN on Acculynk'sgraphical, scrambling PIN-pad, which has been specially designed formobile smartphone platforms.
The prevalence of mobile transactions coupled with merchantdemand prompted Acculynk to extend the capabilities of PaySecurebeyond the Internet channel.
"We were approached by major merchants last year wanting to knowhow PaySecure would fit with their developing mobile channels, so westarted work on a mobile application," said Ashish Bahl, CEO ofAcculynk. "After several months of development, we'll be ready tolaunch PaySecure mobile in Q1 2011, allowing our merchants andpartners to benefit from the higher security of PaySecure in notjust one but two major purchasing channels. Additionally, PaySecureMobile is well positioned to add an additional layer ofauthentication to NFC payments on smartphones, since the phone issomething you have but the PIN offers something you know."
PaySecure Mobile is built on Acculynk's patented encryption andauthentication platform, which is also the backbone of Acculynk'sPaySecure Internet PIN debit product. Introduced in March 2009,PaySecure Internet PIN debit is supported by 9 U.S. EFT networks andimplemented on over 1,000 U.S. merchant websites.
But Acculynk is looking beyond Ecommerce payments in 2011, withnew applications for PaySecure including money transfer, Peer toPeer (P2P) authentication, online banking authentication, and PINdebit entry on a kiosk.
"In 2010, we established PaySecure as the standard for PIN debitpayments on the Internet, with a growing base of merchants, issuersand EFT networks," said Bahl. "In 2011, our goal is to expand thechannels where PIN debit can be accepted, like a mobile phone andeven kiosks - giving consumers a consistent payment experience andmerchants lower fraud and lower costs - while introducing newapplications for the product within those channels, such as P2Ppayments and online banking authentication."
PaySecure Mobile will be available on the iPhone, Android,Blackberry and Windows-7 platforms.
Acculynk secures online transactions with a suite of software-only services backed by a patented authentication and encryptionframework provide greater security for issuers, EFT networks,merchants and payment processors.
More Information:
http://www.acculynk.com
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