Internet PIN Debit Can Align the Needs of Merchants, FIs and Consumers for Online Payments

June 11 - Acculynk has announced the availability of a white paper authored by Javelin Strategy & Research on the opportunity Internet PIN debit provides to merchants and financial institutions to align consumer preferences with their own interests and bottom lines. The paper finds that Internet PIN debit fits the profile of a preferred “cash-based” payment method with a popular physical analog, and has the opportunity to capture a significant portion of Internet transactions.

The paper includes findings from a recent study conducted by Javelin in March 2009 on PaySecure, a new Internet PIN debit payment method provided by Acculynk. The study evaluated debit cardholder perceptions and attitudes about PaySecure, and included 500 U.S. debit card users who purchased online in the last year. The study found that PaySecure increases debit cardholder confidence online, and could increase online debit card transactions and lead to additional Internet purchases.

Topics covered in the white paper include:

• Market and economic factors leading to the shift in consumer payment preferences from credit cards to “pay now” debit based payments.
• The merchant, FI and consumer criteria a new payment method must meet to become a successful alternative in everyday use The potential for Internet PIN debit to bring merchants rapid consumer acceptance, reduced costs and incremental purchase volume.
• The opportunity Internet PIN debit presents to FIs to combat alternatives, increase transactional revenue, and maintain the long-term customer relationship value.
• The potential for Internet PIN debit to meet consumer needs for ease of use and security by capitalizing on a familiar payment behavior.

To download a copy of the white paper, please visit: http://acculynk.com/resources/whitepaper.html.

About Acculynk
Acculynk is a leading technology provider with a suite of software-only services that secure online transactions. Backed by a powerful encryption and authentication framework protected by a family of issued and pending patents, Acculynk’s services provide greater security, reliability, convenience and return on investment for consumers, merchants, networks, issuers and acquirers. For more information, visit www.acculynk.com.