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Accel/Exchange, a Morris Plains, N.J.-based electronic funds transfer network, and three other undisclosed EFT networks plan to conduct a pilot to test consumer use of PIN-debit cards for online shopping. The companies have yet to set a launch date. Acculynk Inc., an Atlanta-based company that enables PIN-debit on the Internet by integrating its service into a merchant's online-checkout system, and Accel/Exchange announced a partnership in late October to conduct the pilot. Nandan Sheth, Acculynk president, says the new venture could be lucrative. "Consumers spend $200 billion annually over the Internet. Imagine if PIN-debit gets 5% of those transactions," he says. Fiserv Inc., a transaction processor based in Brookfield, Wis., owns Accel/Exchange.
