Acculynk, creators of PaySecure, announced in a press release today that they will be developing a mobile version of their Internet PIN debit platform for Windows Phone 7, iPhone, Android and BlackBerry systems.
Here's how it works: when a customer makes a debit card purchase at a website that uses PaySecure, they enter their debit card number at checkout. Then, a encrypted graphical keypad, which is embedded into the vendors website, is used to enter the consumer's PIN. It eliminates the need to sign up for accounts on vendor websites or get directed to third-party sites, like PayPal.
Acculynk's CEO, Ashish Bahl, said in the statement,
"In 2011, our goal is to expand the channels where PIN debit can be accepted, like a mobile phone and even kiosks."
They also hope to move beyond eCommerce, by developing methods for online banking and P2P fund transfers. You can check out a demo of how it works here.
Source: EarthTimes
