US fintech giant First Data is strengthening its e-commerce hand through the acquisition of Atlanta-based Acculynk. Financial terms of the deal were not disclosed.
The move gives First Data access to Acculynk’s PaySecure debit routing technology, which allows merchants to process online debit payments through the most cost-effective available network.
Meanwhile, the firm's True Debit gateway via PaySecure promises to decreases fraud rates, expedites payment settlement, and reduce friction for customers.
First Data also gets its hands on Acculynk’s patent portfolio and development team, although it has not given word on other staffers.
Frank Bisignano, CEO, First Data, says: "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."
The deal, subject to closing conditions, also covers Acculynk's other products, including a government bill payment offering and a white-label P2P service for banks.