IMGCAP(1)]
Internet PIN debit and applications that deliver mobile banking-and, eventually, mobile payments-have the potential to change the debit card space in the near future, according to David Schneider, president of the Houston-based Pulse electronic funds transfer network. Those technologies might help networks raise debit-card transaction volume, he says. "In the end, consumers will decide which of these opportunities will win in the marketplace," Schneider tells ATM&Debit News, a CardLine sister publication. Last month, Pulse announced plans to test Acculynk Inc.'s PaySecure Internet PIN-debit software technology. "We believe this payment method has the potential to deliver significant incremental volume by attracting consumers with PIN-only cards, as well as those who are reluctant to use their signature cards in the online environment," Schneider says. The test probably will run three to six months "after which we will assess the results and decide whether to proceed with a broader rollout," Schneider says.
