Acculynk Inc. said Fifth Third Processing Solutions LLC's Jeanie electronic funds transfer network will later this year support the company's Internet PIN debit payment system.
Acculynk's system enables consumers to make PIN debit purchases online with merchants that have integrated its PaySecure software into their online checkout systems. Cardholders enter their PINs on a virtual PIN pad that is displayed on a computer's monitor.
Jeanie is the seventh debit network to support PaySecure, joining Fiserv Inc.'s Accel/Exchange, Alaska Option, Credit Union 24, Fidelity National Information Services Inc.'s NYCE, Discover Financial Services' Pulse and Shazam. Fifth Third Processing is a joint venture of Advent International and Fifth Third Bancorp. The news was announced Wednesday.
"Banks are continually looking for ways to make their [demand deposit] accounts and [debit] cards more valuable," said Tony Embrick, Fifth Third Processing's senior vice president of business development. "You can add value with something like rewards or by making the cards available to use in more places."
Jeanie services 800 financial companies that have issued 20 million debit cards. PaySecure will be among a suite of online payment options those companies can offer to customers.
