First Data Strengthens eCommerce Position with Acquisition of Acculynk
March 16 2017 - 7:00AM
Business Wire
Acquisition will provide merchants with
expanded eCommerce debit offerings
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.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170316005259/en/
Media RelationsLiidia LiuksilaFirst
Data212-515-0174Liidia.Liuksila@FirstData.comorInvestor
RelationsPeter PoillonFirst
Data212-266-3565Peter.Poillon@FirstData.com
First Data (NYSE:FDC)
Historical Stock Chart
From Mar 2024 to Apr 2024
First Data (NYSE:FDC)
Historical Stock Chart
From Apr 2023 to Apr 2024