Atlanta, GA, May 19, 2015 — Acculynk, a leading technology driven payment processor, continues to gain significant momentum in the bill pay vertical by delivering a critical solution to municipalities and utilities. Acculynk’s recent success is driven by its unique payment platform that leverages an Internet PIN Debit solution for processing secure online debit payments. This solution is opening up a new payment channel to municipality and utility customers in the Southeast, Southwest and Midwest.
Specifically, Acculynk’s Least Cost Routing Engine and its PaySecure® patented online PIN pad solution permits PIN enabled debit card users to enter their PIN for e- and m-commerce, ensuring a second layer of authentication and a more secure transaction. Acculynk’s PIN Debit solution is especially impactful for municipalities that have a higher concentration of residents that utilize debit cards as a primary means for transacting (i.e., the unbanked and underbanked).
“We are very proud of our recent and rapid success in this vertical,” said Michael DiTano, GM of Municipal Solutions at Acculynk. “We provide our clients the opportunity to use Internet PIN debit for online payments and expand their reach of potential online bill pay customers. With the growing use of smartphones across our municipal and utility client base, online commerce is now within reach for a broad base of constituents within these communities.”
An important combination of factors has fostered the Company’s growth in this vertical: • For many of municipal and utility constituents, PIN debit is their payment method of choice for all purchases and is a popular and helpful way for municipal and utility constituents to manage their monthly payments. • By providing online PIN debit to municipal and utility clients, these jurisdictions are doing a better job of reducing their customers need to resort to cumbersome and inconvenient cash payments and are better serving all of their constituents. • By adding a true debit option, Acculynk, in many cases, is able to lower the convenience fee charged to customers as this payment method is lower cost than traditional credit payment types.
Acculynk is moving quickly to provide the inclusive option of Internet PIN debit to the payment services offered by municipalities and utilities throughout the U.S. Empowering the people of a community is an exciting way to grow our Company and provide a valuable service to these communities.