PULSE Enables Acculynk`s Payzur® Personal Payment Solution

Tue Feb 19, 2013 9:00am EST

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Consumers Can Make Virtually Instant Person-to-Person Payments
HOUSTON--(Business Wire)--
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 online. 

"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," she added. 

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." 

About PULSE

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. 

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 http://www.acculynk.com.

PULSE
Patty Sendelbach, 832-214-0395
APR
patty.sendelbach@pulsenetwork.com
or
DPK Public Relations
Daniel Keeney, 832-467-2904
dkeeney@dpkpr.com

Copyright Business Wire 2013

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