Banks and credit unions are eager to replace expensive paper check processing with Payzur’s bank-branded approach to p-commerce because it is so simple for consumers to adopt.
Atlanta, GA (PRWEB) February 27, 2013
Atlanta-based Acculynk announced today that it has been selected to participate in BAI Payments Innovation. Acculynk will highlight Payzur, its personal commerce (p-commerce) payment technology, which solves many of the challenges that have kept current P2P offerings from reaching scale.
For both financial institutions and consumers, the simplicity of using the established EFT rails and the bank-issued PIN creates a unique opportunity for P2P to reach transaction volumes that have eluded enrollment-based solutions. Payzur’s technology combines the established EFT debit rails with Acculynk’s patented online graphical PaySecure® PIN pad. This new approach represents an ‘out of the box’ round trip P2P transaction for financial institutions.
“Payzur is the type of innovation that makes you say: that’s so simple; why have we been trying to make it so complicated?” The secret is in the PIN. Checks have facilitated personal commerce for decades and basic technology-enabled real-time money transfer has been around since ATMs have allowed us to enter a PIN to transfer money from our bank accounts to our hands. Put the two together and you get Payzur,” said John Kerley, SVP Payzur, Acculynk. “Banks and credit unions are eager to replace expensive paper check processing with Payzur’s bank-branded approach to p-commerce because it is so simple for consumers to adopt.”
BAI Payments Connect puts a spotlight on the fifteen most innovative payments solutions providers selected from among the hundreds who applied. Participants present their payments business idea, innovation or technology solution, in a rapid-fire 8-minute presentation demo. The event will be held on Tuesday, March 12, at the BAI Payments Connect Conference & Expo 2013, in Orlando.
Acculynk secures online transactions with a suite of software-only services backed by a patented authentication and encryption framework that provides greater security for issuers, EFT networks, merchants and payment processors. Acculynk’s PaySecure® utilizes a graphical PIN-pad for the secure entry of a consumer’s PIN online and is available to merchants through existing acquirer relationships, enabling speedy implementation. PaySecure is currently enabled on over 6,000 merchant websites. Acculynk has partnerships with 11 EFT networks to process PaySecure transactions and with six leading payment processors, and is certified with PULSE, First Data and Master Card, among other key industry leaders. Additionally, Acculynk solutions include PayLeap, a gateway and acquiring and card processing services, and Payzur, a debit-based P2P solution. Visit http://www.acculynk.com.