March 16, 2017Global payments processor First Data has agreed to acquire e-commerce payments technology provider Acculynk. Atlanta-based Acculynk enables e-commerce merchants to accept debit cards and route those payments through the most efficient debit network. More efficient routing of debit transactions helps merchants reduce the cost of processing debit cards on e-commerce sites. The company also provides a payment gateway that includes fraud prevention and expedited payment settlement. In the U.S., credit cards are the preferred way to pay online, although 25 percent of U.S. consumers identified debit cards as their favorite e-commerce option in a recent report. In other countries, direct debit is more popular and the acquisition by First Data could strengthen its e-commerce position both in the U.S. and internationally. “Our global clients conduct business in-store and online, and we are constantly working to give them the most powerful e-commerce assets to make transactions simple, seamless, and secure for their customers,” said Frank Bisignano, chairman and CEO, First Data. “Acculynk has established itself as a leading technology innovator, and its debit routing technology allows First Data to broaden our e-commerce offerings for existing clients and new prospects.” The deal includes other technologies including Acculynk’s government bill pay solution PayGov and what First Data called a “robust patent portfolio.” The companies did not disclose financial terms of the agreement.
Learn more about this topic at these CNP Expo Education Sessions in Orlando, FL from May 22-25, 2017.
- PINless Debit in a CNP World