First Data, a provider of commerce-enabling technology and solutions, has agreed to acquire Acculynk, a tech company that provides ecommerce solutions for debit card acceptance.
With the takeover, First Data will have access to Acculynk’s PaySecure debit routing technology and its suite of other services for businesses of all sizes globally.
Acculynk’s debit routing technology empowers merchants to process online debit payments through the cost-effective available debit network, enabling merchants to trim down their total cost of acceptance.
Moreover, its True Debit gateway through PaySecure reduces fraud rates, accelerates payment settlement and creates a consumer experience with less friction.
These ecommerce tools will be available across the First Data client landscape, from multinational enterprises to sole proprietors operating online stores.
The deal will bring Acculynk’s development team to First Data.
Commenting on the acquisition, First Data chairman and CEO Frank Bisignano said: “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.
“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.”
First Data will also purchase Acculynk’s other product offerings, such as PayGov-a government bill pay solution, and Payzur-a white-label P2P solution distributed by financial institutions for customer use.