But losses mount for the home furnishings e-retailer that went public in October.
Travelers who use their debit cards to make purchases on AA.com will have the option to enter their PIN on PaySecure's graphical PIN-pad.
Atlanta, GA, August 8, 2012 – Atlanta-basedAcculynk announces American Airlines as the first major airline to go live with PaySecure®, Acculynk’s Internet PIN debit-enabling product. This new option offers a more convenient, more secure form of payment for American’s customers and highlights the value and benefits of Internet PIN debit for all online consumers.
“We are pleased to soon offer Internet PIN debit to our customers on AA.com, as PIN debit continues to be one of the fastest growing and most popular payment types in the U.S.,” said Frank DiNuzzo, American’s Managing Director – Marketing Performance. “PaySecure also allows us to grow our Internet presence in Puerto Rico and the Caribbean, a highly debit-centric market, by enabling the more than 2 million online customers with PIN-only debit cards to purchase tickets on AA.com.”
Travelers who use their debit cards to make purchases on AA.com will have the option to enter their PIN on PaySecure's graphical PIN-pad. The transaction is processed as a normal PIN debit card transaction. Acculynk’s PaySecure® technology encrypts each PIN so that it is never transmitted as an actual, numerical PIN. Acculynk transmits the PIN directly to the Electronic Funds Transfer network, which in turn sends it to the bank for approval. The PIN is never stored by AA.com or Acculynk.
According to the First Data Spend Trend® report for April, PIN debit remains the most popular payment type among consumers in 2012.
“American Airlines understands the value of offering Internet PIN debit to its large customer base and the potential to gain new customers outside the U.S. by enabling the most popular payment type in an important market like Puerto Rico,” said John Beisner, SVP of Client Services at Acculynk. “Growing cross-border sales is an important reason that Acculynk’s PaySecure has focused on expanding with major U.S. airlines.”
Acculynk is certified with ATH, the leading debit payment and ATM network in Puerto Rico and the Caribbean, bringing the more than 2.5 million ATH debit card consumers in Puerto Rico the ability to use their PIN-only debit cards for e-commerce.
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 3,000 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. Visit http://www.acculynk.com.
About American Airlines
American Airlines, American Eagle® and the AmericanConnection® carrier serve 260 airports in more than 50 countries and territories with, on average, more than 3,500 daily flights. The combined network fleet numbers more than 900 aircraft. American's award-winning website, AA.com®, provides users with easy access to check and book fares, plus personalized news, information and travel offers. American Airlines is a founding member of the oneworld® alliance, which brings together some of the best and biggest names in the airline business, enabling them to offer their customers more services and benefits than any airline can provide on its own. Together, its members and members-elect serve more than 900 destinations with more than 9,000 daily flights to 150 countries and territories. American Airlines, Inc. and American Eagle Airlines, Inc. are subsidiaries of AMR Corporation. AmericanAirlines, American Eagle, AmericanConnection, AA.com, and AAdvantage are trademarks of American Airlines, Inc. AMR Corporation common stock trades under the symbol “AAMRQ” on the OTCQB marketplace, operated by OTC Markets Group.