ACCEL/Exchange To Launch Online PIN DebitPayments
BROOKFIELD, Wis. - (06/06/06) -- Fiserv announced Monday it hassigned with Pay By Touch to have its ACCEL/Exchange EFT Network bethe first electronic funds network to allow PIN-based debittransactions over the Internet. Pay by Touch's ATM Direct solutionallows PIN-based debit transactions to be processed over theInternet across EFT networks directly to a consumer's credit unionor bank, allowing real-time payments to retailers at lowertransaction costs than those associated with credit card orsignature debit transactions over the Internet. The Fiserv deal isthe first in the planned market wide roll-out by Pay By Touch, themarket leader in biometric payment systems. ACCEL/Exchange providesEFT services to more than 3,500 credit unions and banks.