[March 27, 2013] |
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UnionPay to Ramp Up Online Merchant Acceptance through Acculynk's PaySecure
ATLANTA --(Business Wire)--
Acculynk, provider of PaySecure®, the industry standard
user-authentication method for e-commerce, and UnionPay International
today announced that Acculynk will become a provider of UnionPay's
e-commerce authentication (UPOP) service to US based merchants. UnionPay
International is a subsidiary focusing on international business of
UnionPay, a global bankcard network with over 3.5 billion UnionPay cards
issued worldwide.
U.S. merchants who implement the UPOP service through PaySecure,
Acculynk's global authentication gateway solution, stand to gain access
to billions of new customers beyond U.S. borders. In addition to
UnionPay card holders, a single PaySecure implementation on the
merchant's e-commerce site also provides the capability to generate
sales lift from new PIN-debit customers in North America, Asia-Pacific,
Latin America and the Caribbean.
On the issuing side, Acculynk provides a flexible, customizable online-
and mobile- authentication technology that meets local needs and
regulatory requirements in international markets. Country-specific
authentication changes can be incorporated without disrupting the
merchant or acquirer.
UnionPay cardholders represent a significant source of revenue potential
for U.S. Merchants. Chinese tourism is prevalent, creating demand for
UnionPay acceptance by airlines, cruise lines and entertainment
providers. Chinese consumers with disposable income demand authenticity
when purchasing goods and consumables of well-known brands an the
ability to make these purchases directly from U.S. merchants gives them
this peace of mind.
"Consistent with Acculynk's vision to become the first global debit
switch, UnionPay's stature in global payments combined with our
selection as the sole debit authentication method for India's RuPay
cards solidifies our position as the first true global debit gateway,"
said Ashish Bahl, CEO Acculynk. "Merchants that have adopted PaySecure
are well aware of the lift in sales the billions of new customers with
UnionPay cards bring."
Launched in 2009, PaySecure is the only two-factor authentication method
for online debit transactions that has achieved scale. The PaySecure
approach was selected by National Payments Corporation of India (NPCI)
due to PaySecure's track record of high consumer adoption and low
abandonment.
"Acculynk and UnionPay International clearly understand the merchant
community's demand for a secure, yet streamlined, e-commerce channel,"
said Mark Horwedel, CEO, Merchant Advisory Group. "It is refreshing to
see an industry giant, like UnionPay International seeking a solution
that serves the needs of all constituents, including merchants and
consumers."
"Acculynk and UnionPay International are a strong combination," said
Margaret Weichert, Market Platform Dynamics (News - Alert). "With the addition of UPOP,
Acculynk is becoming a significant innovative presence in the global
debit market."
PaySecure, in use by major U.S. e-commerce merchants and airlines,
provides online merchants with a secure, low-cost, guaranteed funds
payment in which the merchant also benefits from a 100% shift of fraud
chargeback liability. In addition to international customers, PaySecure
currently enables 150 million U.S. debit card holders to use PIN debit
for online and mobile purchases.
About Acculynk
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.

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