Accesspoint to Become Merchant Processor for NYCE's SafeDebit Payment Gateway Agreement Will Make Internet Debit Transactions Available to Thousands of Retailers.Business Editors/Hi-Tech Writers WOODCLIFF LAKE Woodcliff Lake may refer to:
NYCE See New York Cotton Exchange. NYCE See New York Cotton Exchange (NYCE). Corporation today announced that Accesspoint Corp. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ASAP (chat) asap - As soon as possible. ) has signed a letter of intent to offer NYCE's SafeDebit(TM) solution to the thousands of retailers for which Accesspoint serves as a merchant processor. Accesspoint is a leading Application Service Provider (ASP), outsource developer, and manufacturer of e-commerce, e-payment and e-marketing solutions. This agreement will help further SafeDebit card acceptance at participating e-retailers, which in turn will add value to the efforts of the card issuing financial service community and open new channels for SafeDebit users. SafeDebit, which has a patent pending, is the first convenient and portable way to make real-time, PIN-secured purchases on the Internet with funds withdrawn directly from deposit accounts. It is also the only debit payment method that can be used with any standard PC with a CD-ROM drive A device that holds and reads CD-ROM discs. CD-ROM drives generally also play audio CD discs by sending analog sound to the sound card via a 4-pin cable. For specifications of 10x, 20x, etc. drives, see CD-ROM drives. See CD-ROM, CD-ROM changer, CD-ROM server and CD-ROM audio cable. -- and consumers do not have to install any special hardware. In essence, SafeDebit works just like an ATM card An ATM card (also known as a bank card, client card, or cash card) is an ISO 7810 card issued by a bank, credit union or building society. Its primary uses are: "We're excited to work with Accesspoint," said Paul Tomasofsky, vice president with NYCE. "Twenty-five percent of American consumers don't have a credit card and have thus essentially been barred from Internet shopping. With this agreement, SafeDebit will help open the door to an exciting new universe of convenient, secure shopping for many of those people. And anybody who has been reluctant to shop on the Internet can now use SafeDebit to buy with complete confidence." All SafeDebit transmissions are triple-DES encrypted. In addition, there is no data embossed em·boss tr.v. em·bossed, em·boss·ing, em·boss·es 1. To mold or carve in relief: emboss a design on a coin. 2. on a SafeDebit card: if a SafeDebit card is lost or stolen it cannot be easily compromised. Lastly, consumers' account numbers are transmitted to the merchant in encrypted format, minimizing the risks associated with transaction interception. David Vargha, Accesspoint's Vice President for Business Development, views the integration of NYCE's SafeDebit as a very significant advance for both merchants and consumers. "For the first time, merchants will be able to accept debit cards on-line in a manner that is easy and cost-efficient, while consumers will have the added security that comes from knowing that their transactions were protected and fully secured by their confidential PIN numbers." ABOUT NYCE Headquartered in Woodcliff Lake, NJ, NYCE Corporation is one of the largest electronic payments companies in the U.S. The NYCE Network provides financial institutions and retailers with shared network services for automated teller machines automated teller machine (ATM), device used by bank customers to process account transactions. Typically, a user inserts into the ATM a special plastic card that is encoded with information on a magnetic strip. (ATMs), on-line debit point-of-sale and electronics benefits transfer transactions. Currently, the Network has 2,400 financial institution participants and services more than 47 million cardholders through 39,000 NYCE-branded ATMs and 225,000 point-of-sale retailer locations. The company processes nearly 83 million transactions each month. In addition, NYCE Corporation provides financial institutions with electronic funds transfer See EFT. (application, communications) electronic funds transfer - (EFT, EFTS, - system) Transfer of money initiated through electronic terminal, automated teller machine, computer, telephone, or magnetic tape. processing services that support ATM deployment and debit card issuance solutions. Innovations such as SafeDebit, a PIN-secured Internet debit payment solution, have established NYCE as a frontrunner in the payments industry. NYCE's web site address is www.NYCE.net. About Accesspoint Founded in 1995, Accesspoint is a leading provider of managed real-time solutions for servicing the physical (in store) and virtual (Internet) sides of business with solutions for secure payment processing, credit verification, identity verification Noun 1. identity verification - the automatic identification of living individuals by using their physiological and behavioral characteristics; "negative identification can only be accomplished through biometric identification"; "if a pin or password is lost or , risk management, e-commerce and e-marketing services to thousands of merchants nationwide. The company is a mature player among an emerging new breed of service companies called Application Service Providers (ASP). By delivering software and the underlying information as a managed service to businesses, the Accesspoint ASP model provides a viable solution to solving key technology barriers facing the small to medium enterprise today. The Accesspoint concept is simple -- transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. and software delivered as a fully outsourced, bundled service. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion