Most Internet debit transactions are processed as signature transactions. Many consumers prefer the security of PIN debit. Two financial services companies today announced a partnership to provide gateway services and Internet PIN debit processing for financial institutions across the nation.
SHAZAM and Adaptive Payments, have partnered to provide gateway services and Internet PIN debit processing for financial institutions across the nation.
In the press release, SHAZAM’s President and CEO states that
Adaptive Payments has an excellent track record of innovating forward-thinking products in the payment industry. Internet PIN debit is growing in popularity, in turn spurring a lot of innovative products and services in the marketplace. Adaptive Payments not only is on the leading edge of this technology, they also have the resources and previous experience to truly bring Internet PIN debit and mobile technology together in revolutionary ways.
In addition to offering the Internet PIN Debit solution, SHAZAM will also provide gateway services for Adaptive Payments. Gateway services allow cardholders to access their accounts across a wide range of networks connecting to SHAZAM.