Acculynk Enters Indian Debit Market

by Mercator Advisory Group 0

The new Indian debit network, RuPay, hasn’t wasted anytime enabling PIN-debit transctions online, announcing their alliance with Acculynk as their online debit partner. It will be interesting to watch for any variances in online PIN-debit transaction adoption in countries where debit (not prepaid) is still an emerging payment form and credit cards are not pervasive. In the United States, online PIN debit payments have not yet been widely adopted, in some part due to the fact that consumers have quite a few online payment forms to choose from, including signature-debit, and may be hesitant to input their PIN number online.

“As a result of this partnership, RuPay cardholders will be able to make RuPay debit card purchases online using the mandated two factor authentication. We expect to bring millions of RuPay consumers to e-commerce,” said Mr. A. P. Hota, Managing Director and Chief Executive Officer, NPCI. “NPCI has identified the Pin Debit solution of Acculynk to provide security and ease of use to ensure higher success rate.

Click here to read more from Acculynk’s press release.