Acculynk Acquisition Moves it into Direct Merchant Services
September 7, 2012
This week's announcement from Acculynk regarding its acquisition of payment gateway firm PayLeap represents a bold move for the provider of a solution that allows web merchants to accept PIN debit transactions for internet sales.
From Acculynk's press release:
Widespread adoption of Internet PIN debit through Acculynk’s PaySecure® online PIN pad, along with increasing use of PIN debit by consumers, paves the way for the launch of Acculynk Direct, the industry’s first acquirer with the ability to offer Internet PIN debit to small and mid-market merchants. Currently over 3,200 online merchants, including large e-commerce retailers and most major airlines, provide Acculynk’s Internet PIN debit as an online payment method to their customers. PIN debit benefits merchants by shifting the liability for fraud from the merchant to the card issuer. Acculynk’s patented PaySecure online PIN pad is the industry standard for accepting PIN debit transactions over the web.
Acculynk's acquisition will enable it to reach beyond the top tier of merchants that have already installed PaySecure with the help of Acculynk and their merchant acquirers. The small-to-mid merchant market for ecommerce solutions is one that continues to show promise, according to Acculynk CEO, Ashish Bahl. In a briefing with PaymentsJournal, Bahl was enthusiastic about the deal, saying that the PayLeap platform can allow Acculynk to enjoy expanded revenue streams from merchant card acceptance services, and affords considerable global opportunity as the firm expands its international presence.