First Data to add PIN debit e-commerce with Acculynk acquisition
Payment technology solutions provider First Data has entered into an agreement to acquire Acculynk, a provider of e-commerce solutions for debit card acceptance. The acquisition expands the First Data e-commerce solution suite by providing merchant access to Acculynk PaySecure debit routing technology, according to a press release.
Acculynk debit routing technology allows merchants to process online debit payments through the most cost-effective debit network available, reducing their total cost of acceptance.
In addition, the company’s True Debit gateway via PaySecure decreases fraud rates, expedites payment settlement, and creates a consumer experience with less friction, the release said.
First Data will also acquire other Acculynk products that include PayGov, a government bill pay solution, and Payzur, a white-label P2P solution distributed by financial institutions for customer use.