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NYCE Payments Network LLC today announced it will pilot a PIN-debit payment option that enables consumers to make purchases without sharing their PINs or account information on the merchant's Web site. San Jose, Calif.-based Verient Inc. will provide the technology for the service, called NYCE SafeDebit. The pilot is scheduled to begin early next year, according to a statement from NYCE. Consumers who want to use SafeDebit can choose the option on a participating merchant's Web site during the checkout process and automatically be transferred to their participating financial institution's online-banking site. There they can log in as they normally would to bank online and choose SafeDebit for their payment, according to the statement. SafeDebit creates virtual debit card information for one-time use and automatically fills in the required payment fields on the merchant's checkout screen. The consumer does not need to enter any additional information to complete payment. "Consumers find shopping online convenient, but many choose to avoid it because of security concerns," Steve Rathgaber, NYCE president and chief operating officer, says in a statement. NYCE executives could not immediately be reached for comment. This is NYCE's second foray into attempting to enable PIN-debit purchases on the Internet. The previous version of SafeDebit used a CD-ROM to provide PIN information.
