OMB APPROVAL

OMB Number: 3235-0145

Expires: February 28, 2009

Estimated average burden hours per response...14.5

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13D/A

Under the Securities Exchange Act of 1934
(Amendment No. 3 )*

DIRECT INSITE CORP.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

25457C 20 7

(CUSIP Number)

Thomas C. Lund
7613 Bay Colony Drive
Naples, FL 34109

(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)

December 31, 2008

(Date of Event Which Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. o

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent.

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

CUSIP No. 25457C 20 7  Page 2  of  5 

1	NAMES OF REPORTING PERSONS Thomas C. Lund
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
	(a)   o
	(b)   þ
3	SEC USE ONLY
4	SOURCE OF FUNDS (SEE INSTRUCTIONS)
	PF
5	CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
	o
6	CITIZENSHIP OR PLACE OF ORGANIZATION
	Florida
		7	SOLE VOTING POWER
NUMBER OF			755,937
SHARES		8	SHARED VOTING POWER
BENEFICIALLY
OWNED BY			0
EACH		9	SOLE DISPOSITIVE POWER
REPORTING
PERSON			755,937
WITH		10	SHARED DISPOSITIVE POWER
			0
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	755,937
12	CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
	o
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
	7.8%
14	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
	IN

CUSIP No. 25457C 20 7  Page 3  of  5 

Item 1. Security and Issuer

     This Amendment Number 3 amends that certain statement on Schedule 13D filed by the Reporting Person on June 19, 2007 (as previously amended, the “Statement”) and which relates to the common stock, par value $0.0001 per share (the “Common Stock”), of Direct Insite Corp., a Delaware corporation (the “Issuer”). The filing of this amendment does not constitute an admission that any of the matters reported herein are material, and this filing is being made on voluntary basis to update prior disclosures. The Issuer’s principal executive offices are located at 80 Orville Drive, Bohemia, New York 11716.

Item 2. Source and Amount of Funds or Other Consideration

     Item 2 of the Statement is amended to add the following:

     Following the acquisition reported in Amendment Number 2 to the Statement and prior to December 31, 2008, Mr. Lund acquired, through a brokerage account, owed by his wife, Carol A. Lund, from personal funds, an aggregate of 30,316 shares of Common Stock in open market transactions for aggregate consideration of $27,054.65 plus commissions.

Item 4. Interest in Securities of the Issuer

Item 4(a) of the Statement is amended and restated in its entirety, as follows:

Mr. Lund (through the Trust and brokerage accounts owned by his wife Carol A. Lund) beneficially owns an aggregate of 755,937 shares, including 352,304 shares which may be acquired upon exercise of the Warrant. The shares of Common Stock owned by Mr. Lund and acquirable upon exercise of the Warrant constitute 7.8% of the shares of Common Stock outstanding, calculated in accordance with Rule 13d-3. This information is based upon there being 9,359,264 shares of Common Stock outstanding as of November 10, 2008, as reported in the Issuer’s Quarterly Report on Form 10-Q filed on November 13, 2008.

Item 4(c) of the Statement is amended by adding the following:

Additionally, Mr. Lund has acquired the following shares, at the following per share prices, into his joint brokerage account with Ms. Lund, in open market transactions:

Date	Shares		Per share Price		Aggregate Price
10/31/08		870	$	0.95	$	826.50
11/3/08		31	$	0.85	$	26.35
11/4/08		14	$	0.85	$	11.90
11/5/08		10	$	0.85	$	8.50

CUSIP No. 25457C 20 7  Page 4  of  5 

Date	Shares		Per share Price		Aggregate Price
11/10/08		2,100	$	0.85	$	1,785.00
11/11/08		2,786	$	0.85	$	2,368.10
11/12/08		1	$	0.30	$	0.30
11/13/08		500	$	0.95	$	475.00
11/13/08		3,500	$	0.85	$	2,975.00
11/13/08		3,000	$	1.00	$	3,000.00
11/14/08		1,000	$	0.85	$	850.00
11/14/08		9,000	$	0.95	$	8,550.00
11/20/08		3,807	$	0.86	$	3,274.02
11/21/08		1,193	$	0.86	$	1,025.98
11/21/08		2,500	$	0.75	$	1,875.00
11/24/08		4	$	0.75	$	3.00

CUSIP No. 25457C 20 7  Page 5  of  5 

SIGNATURES

     After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Dated: January 9, 2009

/S/ JOHN B. STORY, attorney in fact  

Thomas C. Lund by Power of Attorney 

granted to John B. Story