MobiLend Announces Integration with Payzur Direct-to-Debit Disbursements

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MobiLend’s borrowers will now have access to funds in near real time

MobiLend, a trusted digital lender offering the simplest, fastest solutions for short-term financial needs, announced today that it has integrated Payzur Direct-to-Debit, Acculynk’s real time disbursement platform, into their mobile app. MobiLend’s customers will be able to receive funds directly to a debit card in near real time.

“MobiLend is focused on disrupting the consumer finance industry by providing young borrowers with a unique, mobile focused environment that includes instant loan funding, referral gamification, financial education, and real time big data underwriting and decision making. This partnership demonstrates our commitment to these goals by giving borrowers the fastest, easiest way to receive funds. We are excited to be launching in May of 2015 with Acculynk by our side,” said Justin D’Ambra, CEO of MobiLend. “Acculynk’s debit disbursement solution is on the leading edge of innovation and cost efficiency. This gives us a leg up on the competition, but more importantly, gives our borrowers a leg up on satisfying their financial needs,” explains MobiLend’s CFO, Valentin Gasparyan.

With Payzur Direct-to-Debit, MobiLend’s customers can receive their funds within seconds, enabling them to quickly pay bills, make everyday purchases or withdraw cash. By using MobiLend and selecting debit as the payout option, consumers can now avoid funding delays, which result in costly late fees and overdraft penalties.

“We’re excited to formally announce our partnership with MobiLend. The Payzur Direct-to-Debit solution is a great fit for their business and customers’ needs," said Steve Ostroff, General Manager – Payzur. “In the new digital economy, ACH and checks are no longer sufficient for on-demand, mobile-first businesses. Payzur is perfectly suited to be the disbursement option for businesses – like MobiLend – looking for a faster, cheaper and easier payout solution.”

“Acculynk has enabled MobiLend to quickly initiate financial transactions with a fluent REST API . The convenience however does not compromise flexibility in the different types of financial transactions that can be made. This is a big win for MobiLend as a startup,” added Amit Saxena, CTO of Mobilend, who has led their Payzur integration process.

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 6,000 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. Additionally, Acculynk solutions include PayLeap, a gateway and acquiring and card processing services, and Payzur, the only debit-based real time and 100% white labeled P2P solution. Visit http://www.acculynk.com.
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Contacts:
Nandan Sheth
Acculynk
(404) 664 3885
nsheth(at)acculynk(dot)com

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monish bahl
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