As person-to-person (P2P) financial transactions grow in popularity,
PULSE, one of the nation’s leading debit/ATM networks, is now enabling
Acculynk’s Payzur debit-based P2P solution across the PULSE®
network to help meet the needs of its financial institution
participants. The announcement means PULSE participants and their
cardholders have access to an additional real-time P2P solution.
Acculynk’s Payzur allows consumers to send funds simply by
authenticating the mobile- or web-initiated transaction with their debit
card PIN via Acculynk’s PaySecure® online graphical PIN pad.
Acculynk’s real-time P2P solution is as simple and fast as using PIN
debit at the point of sale.
PULSE already uses Acculynk’s PaySecure technology to enable its
Internet PIN Debit product to provide fast, easy PIN debit transactions
“Consumers generally prefer to use debit over cash for retail payments,
and they are now looking for that same easy solution when it comes to
paying friends, family and others,” said Judith McGuire, Executive Vice
President of Product Management at PULSE. “We want to give our
participants greater access to the P2P market opportunity which, in the
U.S., is estimated to be between $80 billion and $120 billion annually,”
With Payzur, consumers can use their smartphone, or other web-access
device such as a tablet PC, along with their PIN, to send payments. Most
cardholders will see transactions post to their account more quickly,
and financial institutions will avoid the cost associated with ACH
transactions. These transactions will settle with participating PULSE
financial institutions through their existing network connectivity and
settlement processes in place with PULSE, making them cost-effective,
convenient and efficient.
“Recipients will have access to the funds almost immediately, making
Payzur an attractive personal-commerce solution,” said John Kerley,
Senior Vice President and General Manager of Acculynk’s Payzur division.
“With earlier P2P solutions, payments sometimes took days, rather than
the minutes or seconds of Payzur payments.”
PULSE, a Discover Financial Services (NYSE: DFS) company, is a leading
debit/ATM network, serving more than 6,300 financial institutions across
the United States. This includes 4,300 issuers with which PULSE has
direct relationships and more than 2,000 additional issuers through
agreements PULSE has with other debit networks. PULSE links cardholders
with ATMs and POS terminals at retail locations nationwide. Through its
global ATM network, PULSE provides worldwide cash access for Diners Club
and Discover cardholders through more than 900,000 ATM locations. The
company also is a source of electronic payments research and is
committed to providing its participants with education on emerging
products, services and trends in the payments industry. For more
information, visit www.pulsenetwork.com.
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.