Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Products
Consumers more willing to use PIN debit online
ATLANTA (9/10/09)--Consumers are more willing to use their debit card and personal identification numbers (PIN) when paying online, according to a payment software solutions provider. About 56% to 60% of consumers that are presented with Acculynk’s Pay Secure solution choose to complete their purchase online with a PIN entry instead of processing the transaction as credit. Of the consumers that choose to process the transaction as credit, only 10% use the PIN pad, Acculynk said. A study by Acculynk also found that 80% of participants said they would use PaySecure when presented as a payment option. Consumers also viewed PaySecure as a more secure payment method, and 48% said they would purchase more often on the Internet if they could use PaySecure. “Usage could actually increase trust in the Internet purchasing process,” Acculynk said in a white paper, “PaySecure: Tracking to Become a Leading Online Payment Method.” About 79% of consumers also feel more secure using their debit card online with PaySecure than without, according to a Javelin Research survey. PaySecure was commercially introduced in March and included several online merchants and electronic funds transfer networks, including Credit Union 24. The solution was designed to mimic the PIN entry process at the retail point-of-sale by giving consumers the option of processing the transactions as debit or credit. Acculynk, based in Atlanta, provides software solutions for online transactions.


RSS print
News Now LiveWire
NCUA re-schedules start of tomorrow's closed meeting to 9 a.m. ET. Open meeting still at 10 a.m. ET.
6 hours ago
.@lisamurkowski @SenatorEnzi @SenJohnBarrasso are latest to weigh in on NCUA risk-based capital proposal. See #NewsNow tomorrow for more
6 hours ago
Now up on News Now: Fed stays course on taper, interest rates http://t.co/6DntsW58vA
9 hours ago
Positive performance indicators and the potential for rising interest rates in @TheNCUA 's latest economic update. http://t.co/yptPbIGvnU
11 hours ago
The @CFPB has launched a nationwide effort to provide financial education. http://t.co/sF3FXHpv3k
12 hours ago