Atlanta, GA, September 4, 2015 — To break up the long standing duopoly, the Durbin Amendment a provision of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, gives online merchants the right to least cost route between two unaffiliated debit networks. Unlike brick-and-mortar merchants, online merchants have not benefited from this ruling due to; (a) lack of alternatives to Visa and MasterCard and (b) a simple integration model across multiple networks. Over the last twelve months, Acculynk has worked directly with the following regional debit networks including PULSE, Accel, Star, NYCE, Shazam and CU24 to launch a single Global True Debit gateway that enables dynamic least cost routing across these networks for e-Commerce transactions. This presents a massive opportunity for online merchants. We have encapsulated this opportunity within a short whitepaper titled, “Leveraging Regional Debit Networks to Reduce Online Card Acceptance Costs in a Post-Durbin World” which can be found on the website here http://acculynk.com/resource/list/5
This whitepaper will help to educate online merchants on the opportunity to leverage a true debit option as a viable and cost-effective payment method. Providing details on the business case, which for many merchants can afford savings of 15% to 30% compared to Visa and MasterCard signature debit options. Additionally through the same Global True Debit gateway online merchants can benefit from acceptance of international debit brands such as China Union Pay.
“Working with the debit networks, our True Debit Gateway delivers a compelling value proposition to merchants that want an alternative to Visa and MasterCard Debit,” said Ashish Bahl, Chairman and CEO of Acculynk. “We have seen remarkable success with large enterprise merchants leveraging this solution. When one considers the cost savings and then the access to foreign networks, all with one simple integration, the ROI on our Debit centric solution becomes a no brainer for online merchants.”
Acculynk is a patent backed payment and authentication innovator backed by one of the largest venture capital funds in the US. Our founders have successfully launched and sold multiple disruptive businesses in the Financial Technology market. We serve some of the largest and fastest growing eCommerce markets in the world including the US, India, China and Canada. Our solutions unlock billions of consumers for in-country and cross-border online and mobile commerce. Acculynk’s PaySecure® is the only technology that has been approved across multiple domestic and international Networks for online / mobile PIN entry to secure a payment transaction. PaySecure is currently enabled on over 6,000 merchant websites. Additionally, Acculynk solutions include PayLeap, a gateway and acquiring and card processing services, and Payzur, a debit-based P2P and disbursement solution. Visit http://www.acculynk.com