Acculynk has announced that it is bringing its PaySecure Internet PIN debit system to smart phones early this year.
The Atlanta-based company says PaySecure Mobile will enable consumers to authenticate their mobile transactions by entering their bank-issued PIN on Acculynk’s graphical, scrambling PIN-pad, which has been specially designed for mobile smart phone platforms.
Acculynk first introduced PaySecure for PIN debit payments on the Internet in 2009, but the growing prevalence of mobile transactions coupled with merchant demand prompted Acculynk to extend the program to smart phones, says the company.
“We were approached by major merchants last year wanting to know how PaySecure would fit with their developing mobile channels, so we started work on a mobile application,” said Ashish Bahl, CEO of Acculynk. “After several months of development, we’ll be ready to launch PaySecure mobile in Q1 2011, allowing our merchants and partners to benefit from higher security in not just one but two major purchasing channels.”
PaySecure Mobile is built on the same encryption and authentication platform Acculynk uses for its Internet PIN debit product, which today is supported by 9 U.S. EFT networks and implemented on over 1,000 U.S. merchant websites.
Acculynk says it is looking to develop new applications for PaySecure in the coming year, including money transfer, Peer to Peer (P2P) authentication, online banking authentication, and PIN debit entry on a kiosk.
PaySecure Mobile will be available on the iPhone, Android, Blackberry and Windows-7 platforms.