ATLANTA--(BUSINESS WIRE)--Acculynk, a leading technology driven payment processor announced today that it is acquiring the intellectual property (IP) of PayPlum, LLC, the first enterprise-class distributed PCI Compliance software solution focused exclusively on reducing the risk, costs and burden of safeguarding the acceptance and transport of sensitive payment card data within the online and mobile channels. In addition, Acculynk and PayPlum will form a strategic partnership whereby PayPlum will be a reseller of the enhanced solution to new and existing customers. The deal is expected to close shortly.
Acculynk is acquiring PayPlum’s entire IP portfolio that includes a unique, patent pending messaging protocol technology to safely and securely accept and transport sensitive cardholder data and leverage tokenization and PCI scope reduction strategies. PayPlum’s hosted acceptance functionality encapsulates tools such as PCI compliance, merchant control, fraud mitigation and a hosted payment form acceptor, which offers more functionality than a traditional hosted pay page offers. In addition, Acculynk will also acquire PayPlum’s “one-page check out”. The hosted acceptance functionality combined with the one-page check out, offers merchants a truly unique experience and unparalleled offering in the industry. The tools of PayPlum will be integrated into Acculynk’s global gateway solution. Specifically, the Leap Lock solution offered by PayLeap will incorporate many of the tools acquired from PayPlum complemented with its existing capabilities.
“We are very excited about this relationship,” said Monish Bahl, SVP Business Development. “The technology being acquired will further push our Leap Lock solution ahead relative to the competitive landscape. We look forward to offering this solution to both our new and existing customer base.”
The new integrated offering is expected to formally launch in mid-December 2014 and will include a platform that delivers a full suite of secure payment solutions for different processing environments.
“We are excited to work with Acculynk to offer a unique payment solution,” said Gregory McGraw, CEO & Co-Founder of PayPlum. “We believe that Acculynk is the right partner for us and we look forward to a long and fruitful relationship.”
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 Direct offers PayLeap, a gateway and acquiring and card processing service; and Payzur, a debit-based P2P solution. Visit www.acculynk.com and www.payleap.com.
Founded in 2011 and headquartered in Atlanta, GA, PayPlum has been creating innovative security and compliance products exclusively to protect and secure sensitive consumer data while allowing merchants to maintain full control over their brand and technology infrastructure. PayPlum’s exceptional team of experts is dedicated to helping companies dramatically reduce the risk and costs associated with PCI compliance mandates through effective network segmentation and isolation of all online and mobile touch points that handle sensitive cardholder data. PayPlum’s entire suite of secure middleware software is PCI PA DSS Version 2.0 validated by industry leading qualified security assessor, Coalfire Systems, Inc. For more information, please visit http://www.PayPlum.com.