Acculynk Provides Update on Recent Acquisition of PayLeap

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Recent Acquisition of Leading e-Commerce Payment Provider has Exceeded Initial Expectations with Strong Revenue Growth and New Product Offering

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"In a very short time, the combination of Acculynk and PayLeap has revealed tremendous synergy for us,” said Ashish Bahl, CEO Acculynk. “Acculynk is now firing on all cylinders as evidenced by our record daily revenue and recent contract wins."

Atlanta-based Acculynk announced today it has fully integrated its recent acquisition of PayLeap, an industry leading e-commerce payment gateway platform and merchant services ISO. The new entity is now Acculynk Direct, an operating division of Acculynk.

Acculynk Direct’s PayLeap solution, now fully integrated with Acculynk’s proprietary Internet PIN debit solution, the PaySecure® online PIN pad, offers a compelling and unique value proposition to small and mid-market merchants.    Acculynk Direct is now the industry’s first acquirer with the ability to offer Internet PIN debit to small and mid-market merchants. 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.

“In a very short time, the combination of Acculynk and PayLeap has revealed tremendous synergy for us,” said Ashish Bahl, CEO Acculynk. “Acculynk is now firing on all cylinders as evidenced by our record daily revenue and recent contract wins, including a very large telecommunications company whereby we will be the payment gateway for all their small and mid-market merchants. We are also pursuing a record backlog of opportunities that we expect will close in the near term. Based on our recent success, our pipeline of opportunities and future product roadmap, including mobile payments, we have even higher expectations for the combined company.”

Recent examples of the successful integration include:

  •     PayLleap has now reached record daily revenue, all organically. The record is now a 37% increase over the previous record prior to the acquisition.
  •     PayLeap has secured a contract with a national and industry leading telecommunications company to offer payment solutions to all of the company’s small and mid-market merchants. The solution will be private labeled and expected to launch in the first quarter of 2013. There are several other significant distribution deals the company is working on including deals with major shopping carts and associations.
  •     PayLeap intends to launch its new website in January 2013.
  •     PayLeap intends to launch its mobile solution in the first quarter of 2013.
  •     The company has added significant talent to its employee base.

“We are very pleased to be in the Acculynk family,” said Scott Miller, EVP and General Manager PayLeap. “The integration and cultural impact has been very smooth. In a short time, we have achieved robust success and feel that the future looks even brighter.”

About Acculynk
Acculynk secures online transactions with a suite of software-only services backed by a patented authentication and encryption framework that provides greater security for issuers, EFT networks, merchants and payment processors. Acculynk’s PaySecure® utilizes a graphical PIN-pad for the secure entry of a consumer’s PIN online and is available to merchants through existing acquirer relationships, enabling speedy implementation. PaySecure is currently enabled on over 3,200 merchant websites. Acculynk has partnerships with 11 EFT networks to process PaySecure transactions and with six leading payment processors, and is certified with PULSE, First Data and MasterCard, among other key industry leaders. Acculynk also provides PayLeap gateway and acquiring and card processing services. Visit http://www.acculynk.com.

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Contact:
Sandra Chesnutt
Acculynk
(678) 894-7013
schesnutt(at)acculynk(dot)com

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Sandra Chesnutt - SVP Marketing
Acculynk
678-894-7013
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