Accullink, LLC Acquires Pay by Touch Internet PIN Debit Patents

Accullink, LLC is pleased to announce the acquisition of Pay By Touch's suite of 25 global Internet PIN Debit patents. These patents enable, for the first time, a software-only solution for PIN based payment transactions on the Internet. The patents are being commercialized through Accullink, LLC subsidiary ATM Direct. Their solution provides a compelling alternative payment method for consumers and merchants.

Atlanta, GA, April 06, 2008 --( Accullink, LLC, an Atlanta based investor group, has acquired Pay by Touch's suite of 25 global patents that enable a software-only solution for PIN based payment transactions on the Internet.

Accullink, LLC is commercializing the patent suite through its subsidiary ATM Direct, a leading alternative payment provider. The company has established operations in a Tier 1 data center, launched an Internet PIN Debit payments platform, secured significant merchants for pilots, and received commitments from several EFT networks for directly processing merchant transactions. ATM Direct will be headquartered in Atlanta, GA with technology development staff in Dallas, TX and Bangalore, India.

"Online merchants are seeking a low cost payment method that consumers will quickly and easily adopt," said Nandan Sheth, President of ATM Direct. "Internet PIN debit offers the most compelling alternative payment method on the market. In addition to lowering merchant fees, this is the only payment method that has the potential of dramatically reducing online fraud."

PIN debit has been used for over 20 years at brick and mortar retailers and is the most secure and one of the most preferred consumer payment methods. Until now, there has been no software-only solution that allows consumers to pay for Internet purchases using their PIN debit cards. Current online payment options are limited to standard signature debit card and credit cards, plus a handful of alternative payment services such as PayPal and Bill Me Later.

"ATM Direct is a very strong contender in the alternative payment marketplace because our solution seamlessly integrates with existing payment channels," said Tom Wilkerson, Vice President of Business Development. Internet PIN debit transactions are processed across EFT networks to the consumer's financial institution at significantly lower transaction costs than credit card or signature debit card transactions.

Part of the company's business model involves forging close partnerships with merchant acquirers. "We want to become the technology that powers our partners to sign additional merchants and retain the ones they have current relationships with," said Sheth. "Our strategy retains the integrity of the current business model, where the merchant has a direct relationship with an acquirer."

ATM Direct has strong financial backing from an investor group that includes Dallas Clement, Senior Vice President of Strategy and Development at Cox Communications and Ragiv Grover, Dean of the Fogelman College of Business and Economics. The company has assembled a seasoned management team that brings expertise from many sectors of the payment industry. The core team has over 100 years of experience within Financial Compliance and Security, Card processing, Alternative Payment Systems, and EFT Networks. For additional information, visit

ATM Direct
Danielle Duclos
2812 Spring Rd. SE, Suite 160