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CU 24 Acculynk to pilot Internet PIN debit service
TALLAHASSEE, Fla. (6/3/09)--Credit Union 24 and Acculynk have partnered to provide PaySecure to credit unions. PaySecure is a software-only service for personal identification number (PIN) online debit payments. Credit Union 24 is a member-owned, deposit-taking ATM and point-of-sale network based in Tallahassee, Fla. Acculynk offers software that secures online transactions. PaySecure allows online buyers to use only their debit cards and PINs to make purchases. Users enter their PIN on PaySecure’s PIN pad at the checkout, and are not required to use other hardware devices or passwords. PaySecure also provides an extra layer of security for debit card transactions to reduce fraud and charge-backs from credit unions. “We expect it will be widely adopted,” said Ashish Bahl, Acculynk CEO. A recent survey by Javelin Strategy and Research indicated that 78% of respondents said entering their PIN on the PaySecure PIN pad was as simple as entering their PIN at an ATM or grocery store. About 48% of respondents also said they would buy more products and services online if they could pay with PaySecure. Credit Union 24 is the only network solely devoted to credit unions that has partnered with Acculynk, the companies said in a release.


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