HOUSTON (7/15/10)--PULSE has introduced Internet PIN debit, which allows financial institutions--including credit unions--to deliver personal identification number (PIN)-based online transaction verification to consumers who buy from e-commerce merchants. With PULSE Internet PIN Debit, consumers are given the option of completing an online transaction with a PIN. Consumers are then prompted to enter their PIN and complete the transaction, using a graphical, scrambling PIN pad that can be customized with the card issuers’ logo and debit card design. The cardholder clicks the mouse on a number and the PIN pad re-scrambles as each subsequent digit is elected. The PIN is not captured on the computer or transmitted over the Internet. The solution uses Acculynk’s PaySecure Internet PIN debit software. It guards against phishing because several attributes are displayed during the transaction, including merchant branding, financial institution identifiers, and the Verisign Secured Seal. Acculynk’s Internet PIN debit software service is integrated directly into the online checkout process, eliminating the need for cardholders to enroll or be redirected to another site to complete purchases, PULSE said.
DES MOINES, Iowa (7/15/10)--The Members Group (TMG), Des Moines, Iowa, has added the Visa Risk Manager to its fraud prevention services for clients participating in Visa programs. With Visa Risk Manager, credit unions can create fraud cases and decline suspicious transactions in real time. The tool is customizable and allows for rule creation at the account level and for a specific timeframe, giving credit unions the ability to fine-tune their fraud prevention methods based on individual cardholder needs. Visa Risk Manager, with Visa Advanced Authorization, allows credit unions to decline only the highest risk transactions while optimizing approval rates at the point of purchase. That means reduced risk exposure for credit unions and the freedom for cardholders to use their Visa cards in more places. Credit unions also can evaluate proposed fraud strategies within minutes, using their own historical data to provide an accurate assessment of rule performance. “We know that a one-size-fits-all approach to fraud prevention doesn’t work,” said Karen Postma TMG cards risk senior manager. “This extra level of protection gives our clients options and a layered approach to fraud prevention that will dramatically improve response time and guide their evolving strategies.” TMG will provide the tool at a number of service levels, depending on the client’s specific fraud prevention needs.