The initiative enables customers to access their deposit accounts for online purchases without sharing PIN or account information at merchant websites. Those accessing the SafeDebit payment method are to select NYCE SafeDebit on the merchants website at checkout. They will be thus redirected to their financial institutions online banking website. After logging, they will receive specific virtual debit card information which can be used only once and which is to be used during the checkout process. Thus, buyers does not reveal their actual debit card numbers to the merchant and the transaction does not require the use of a PIN. The company is to roll out SafeDebit starting early 2009.
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