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Credit Union 24, the nation's largest credit-union owned ATM and point-of-sale debit network, has become the fourth electronic funds transfer network to agree to pilot Acculynk Inc.'s PaySecure Internet PIN-debit product. Acculynk enables PIN-debit purchases online by integrating its PaySecure software into a merchant's online-checkout system. "This is a segment of the banking sector we need to evaluate," Nandan Sheth, Acculynk president, tells CardLine sister publication ATM&Debit News. "We feel credit-union customers are fairly debit-centric." Cardholders use their computer's mouse to enter their four-digit PINs into an Acculynk virtual PIN pad that appears on the computer's monitor. Acculynk also is conducting PaySecure tests with Metavante Technologies Inc.'s NYCE, Fiserv Inc.'s Accel/Exchange and Discover Financial Services' Pulse networks (CardLine, 3/24). Two online retailers are accepting PIN-debit cards online using PaySecure: 2Checkout.com, an authorized reseller for online retailers, and ShoppersChoice.com, a luxury-cooking retailer. Sheth expects to announce PaySecure partnerships with four other merchants by September.
