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ATM Direct, Fiserv sign debit deal for Internet transactions

June 27, 2006

Digital Transactions: Fiserv Inc.'s Accel/Exchange network signed a deal with ATM Direct to switch online PIN-secured debit transactions processed by ATM Direct. ATM Direct allows customers to use their ATM/debit cards and PINs when buying merchandise over the Internet. Accel/Exchange is the first EFT network recruited to work with ATM Direct, a subsidiary of Pay By Touch Inc.

ATM Direct announced earlier this month that it signed similar deals with another EFT network, an Internet payments merchant and another online retailer, all of whom the company would not name. The retailer is expected to go live on the system in August. The flurry of developments caps months of behind-the-scenes work to bring the ATM Direct product to market.

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