News from the Wire

Acculynk joins EMV Migration Forum

Tuesday, January 29, 2013 — 11:17:56 (EST)

Atlanta, Jan. 29, 2013 -- Atlanta-based Acculynk announced today that it has joined the EMV Migration Forum, an industry body formed by the Smart Card Alliance to promote the timely and efficient migration to EMV-enabled cards, devices and terminals in the United States. The EMV Migration Forum is an independent, cross-industry body created to address issues that require broad cooperation and coordination across many constituents in the payments space.

“As processors race to convert PIN debit networks to EMV standards in the United States, we look forward to playing a key role within the EMV Migration Forum and adding valuable input,” said Nandan Sheth, President of Acculynk. “The creation of the EMV Migration Forum will enable all stakeholder groups to collaborate, discuss key challenges and ultimately agree on a best practice approach to this timely transition.”

The EMV Migration Forum has experienced tremendous growth since its formation several months ago, growing to 100 members from the entire payments industry, including global payment brands, financial institutions, merchants, processors, acquirers, regional debit networks, device manufacturers and industry associations. A broad cross-section of leading payment brands, issuers, payment processors and industry suppliers are behind the effort to establish the Forum.

“We welcome the addition of Acculynk to the EMV Migration Forum,” said Smart Card Alliance Executive Director and EMV Migration Forum Acting Director, Randy Vanderhoof. “Acculynk will be able to bring its perspective of the U.S. market to support the EMV Migration and ensure the migration to EMV-enabled cards, devices, and terminals in the United States is successful.”

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 www.acculynk.com .

About the EMV Migration Forum

The EMV Migration Forum is a cross-industry body focused on supporting an alignment of the EMV implementation steps required for global and regional payment networks, issuers, processors, merchants, and consumers to ensure a successful move from magnetic stripe technology to more secure EMV contact and contactless technology in the United States. The focus of the Forum is to address topics that require some level of industry cooperation and/or coordination to migrate successfully to EMV technology in the United States. For more information on the EMV Migration Forum, please visit: www.smartcardalliance.org/pages/activities-emv-migration-forum .

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Source: Company press release.