First Data, the commerce-enabling technology company, announced Thursday (March 16) it entered into an agreement to acquire Acculynk, an Atlanta-based technology company that delivers eCommerce solutions for debit card acceptance. Terms of the deal were not disclosed.
In a press release, First Data said the deal expands its eCommerce solution suite by providing access to Acculynk’s PaySecure debit routing technology and its range of other services for businesses of all sizes around the world.
“Our global clients conduct business in-store and online, and we are constantly working to give them the most powerful eCommerce assets to make transactions simple, seamless and secure for their customers,” said Frank Bisignano, chairman and CEO of First Data, in the press release. “Acculynk has established itself as a leading technology innovator, and its debit routing technology allows First Data to broaden our eCommerce offerings for existing clients and new prospects. Ashish Bahl and his team will strengthen our already formidable eCommerce capabilities.”
Acculynk’s debit routing technology enables merchants to process online debit payments through the debit network, helping merchants reduce their total cost of acceptance. In addition, Acculynk’s True Debit gateway via PaySecure decreases fraud rates, expedites payment settlement and creates a consumer experience with less friction, First Data said in the release. The eCommerce tools will be available to multinational corporations to sole proprietors operating online stores.
“It is incredibly exciting to join forces with First Data as we streamline eCommerce and reduce transaction costs for businesses around the world,” said Bahl, chairman and CEO at Acculynk, said in the same release. “First Data’s unrivaled global scale and distribution will greatly expand the footprint of PaySecure, providing benefit to merchants looking to simplify debit card eCommerce transactions for consumers around the world.”
In addition to Acculynk’s routing solutions, the company has a patent portfolio that is included in the acquisition. First Data will also acquire Acculynk’s other product offerings, including PayGov, a government bill pay solution, and Payzur, a white-label P2P solution distributed by financial institutions for customer use.