First Data Strengthens eCommerce Position with Acquisition of Acculynk
- Category: Corporate
Acquisition will provide merchants with expanded eCommerce debit offerings
NEW YORK, MARCH 16, 2017 – First Data (NYSE: FDC), a global leader in commerce-enabling technology, today announced that it has entered into an agreement to acquire Acculynk, a leading Atlanta-based technology company that delivers eCommerce solutions for debit card acceptance. The acquisition expands First Data’s robust 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, First Data. “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 unique debit routing technology allows merchants to process online debit payments through the most cost-effective available 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. These innovative eCommerce tools will be available across the First Data client landscape, from 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 Ashish Bahl, Chairman and CEO, Acculynk. “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 cutting-edge routing solutions, the company has a robust patent portfolio that is included in the acquisition. The acquisition will bring Acculynk’s development team to First Data, adding their online debit network expertise to First Data’s global team of engineers and software developers.
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.
The acquisition remains subject to customary closing conditions.
For more information on First Data’s suite of eCommerce solutions, please click here.
About First Data
First Data (NYSE: FDC) is a global leader in commerce-enabling technology and solutions, serving approximately six million business locations and 4,000 financial institutions in more than 100 countries around the world. The company’s 24,000 owner-associates are dedicated to helping companies, from start-ups to the world’s largest corporations, conduct commerce every day by securing and processing more than 2,800 transactions per second and $2.2 trillion per year.