Acculynk Announces Strategic Partnership with LendUp

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Acculynk’s unique payment solution will enable LendUp customers to process payments and disburse funds in real-time

Atlanta, GA , April 16, 2015 – Acculynk, a unique technology driven payment solutions provider, announced today that it has partnered with LendUp, a San Francisco based next generation financial technology company. With Acculynk’s powerful payment platform and LendUp’s instant decision engine, mobile devices can become a virtual “mobile bank”. Acculynk will work with LendUp to support its mission of providing credit building opportunities to consumers across the country who do not have access to traditional credit facilities.

Acculynk’s gateway provides us with the technology we need to provide the best possible experience to our customers,” explained LendUp CEO Sasha Orloff. “We are extremely focused on providing convenient access to safe credit – that means anytime, anywhere, and not depending on brick-and-mortar branches being open. With the partnership of Acculynk, we can achieve this goal for our consumers, right from their smart phone. It is truly revolutionary in consumer lending.”

“As a company, we realize there are a number of financial disruptors in the marketplace today like LendUp and in order to help them achieve their goals, we need to build a payments product that can ensure both a frictionless customer experience while being mindful of the costs associated with payment processing,” says Nandan Sheth, President and COO of Acculynk. “With our unique Internet PIN Debit and PINless payment processing and direct debit disbursement, as well as traditional merchant processing, we are the complete end-to-end solution.”

The payments landscape is rapidly changing and Acculynk’s unique payment gateway sets itself apart by leveraging its connections to the EFT networks to provide merchants with the payment technology to take their business to the next level as they continue to scale up.

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 Master Card, 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.

About LendUp
LendUp builds modern day software and advanced analytics to expand access and choice among the customers banks and credit unions decline. Their first product is a socially responsible alternative to payday loans called The LendUp Ladder. The LendUp Ladder changes the dynamics of the small dollar loan: rather than being a dangerous first step into a cycle of debt, it becomes an opportunity to learn good financial behavior and to build credit through education, gamification and a transparent fee structure.

LendUp is located in downtown San Francisco and is backed by prominent Silicon Valley investors such as Y-Combinator, Google Ventures, QED Investors, Data Collective, Susa Ventures, Kleiner Perkins, Andreessen Horowitz Seed Fund, Startfund, and mission aligned investors such as Kapor Capital, Eagle Cliff Partners, Susa Ventures, Bronze Investments as well as many highly regarded angel investors and entrepreneurs.

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Contacts:
Nandan Sheth
Acculynk
(404) 664 3885
nsheth@acculynk.com

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monish bahl
Acculynk
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