Fiserv to Launch Online Debit PIN Offering

Fiserv Inc. this month plans to begin offering what the company said will be the first secure Internet PIN debit transaction functionality available through a payments network. The service will be offered through Fiserv’s ACCEL/Exchange Network beginning this month through a partnership with Acculynk, provider of the first software-only service in the U.S. that enables PIN debit payments online, the companies said. The launch follows a pilot program with Acculynk’s PaySecure solution that began in March 2009 to validate processing of Internet PIN debit transaction activity through the ACCEL/Exchange network, which provides funds and payments access to cardholders of more than 2,500 network members, including financial institutions and online retailers. The service will allow consumers already accustomed to using their debit cards and PINs at grocery stores and gas pumps to do the same online without being redirected to another Web site, Fiserv said.