Upcoming AWS Coverage on Envestnet
LONDON, UK / ACCESSWIRE / March 17, 2017 / Active Wall St. blog coverage looks at the headline from First Data Corp. (NYSE: FDC) as the Company announced on March 16, 2017, that it has entered into a definitive agreement to acquire Acculynk, an Atlanta-based technology Company which delivers ecommerce solutions for debit card acceptance. This transaction offers First Data access to Acculynk's PaySecure debit routing technology and multiple other services for businesses of variable sizes across the world. Register with us now for your free membership and blog access at:
One of First Data's competitors within the Business Services space, Envestnet, Inc. (NYSE: ENV), made an announcement on February 22, 2017, that it will report its results for the fourth quarter and year ended December 31, 2016, upon the finalization of its financial statements. AWS will be initiating a research report on Envestnet following its pending earnings results.
Today, AWS is promoting its blog coverage on FDC; touching on ENV. Get all of our free blog coverage and more by clicking on the link below:
The Debit Routing Technology
This unique technology from Acculynk enables merchants to process online debit payments through the most cost-effective available debit network, helping merchants reduce the total cost of acceptance. Additionally, The True Debit gateway via PaySecure minimizes fraud rates, expedites payment settlement, and eventually creates consumer experience with less friction. Acculynk views multiple growth prospects available through First Data client landscape from multinational corporations to sole proprietors operating online stores.
Acculynk's Expansion Portfolio
Acculynk views this transaction as a step to streamline ecommerce and reduce transaction costs for businesses around the world. The unrivaled global scale and distribution will expand PaySecure's footprint and offer added benefits to merchants while simplifying debit card ecommerce transactions for consumers across the world. First Data, on the other hand, will acquire Acculynk's other product offerings, including PayGov, a government bill pay solution, and Payzur, a white-label P2P solution distributed by financial institutions for customer use.
The PIN-debt Company
Acculynk was formed in 2008 when it paid $600,000 to buy the key online PIN-debt technology from Pay By Touch Inc., which acquired the same service for $30.5 million three years back. PayByTouch specialized in biometrically authenticated point-of-sale transactions where it was developed by a startup called ATM Direct. The service relied on a unique floating PIN pad served up on a computer screen. Hence, to thwart key-loggers, the numerical arrangement on the PIN pad would vary for each instance it was invoked.
A Long-term Collaboration Induced Acquisition
On February 14, 2011, Acculynk announced that First Data, the leader in electronic commerce and payment processing, will offer online merchants PaySecure through First Data's ecommerce payment processing platforms. PaySecure offered added security and convenience of PIN debit to the Internet with a patented, graphical PIN-pad that appears over the merchant checkout option for PIN entry. This agreement is viewed as a unification step for two complementary ventures.
First Data's Growth Prospects
First Data has aimed at expanding through a multi-nation and multi-platform growth strategy. On October 24, 2016, First Data announced a new partnership with Alipay, to bring the solution to United States merchants. Currently, First Data serves more than 4 million merchant locations across the States. Post the announcement, on February 09, 2017, First Data partnered with KeyBank, (NYSE: KEY), one of the nation's largest financial firms, to provide enhanced merchant services solutions to KeyBank's commercial, business, and government clients across the nation.
This deal, subject to customary closing conditions, covers Acculynk's other products including government bill payment offering and white-label P2P service for banks.
First Data hopes to expand its merchant services by relying on PaySecure's connections to multiple debit networks, including Accel/Exchange, NYCE, Shazam, and First Data's own Star system. The Company expects to leverage the link Acculynk has acquired which includes half a dozen domestic networks and three international systems to develop additional services while enabling single- and dual-message PINless transactions and the push payment services.
On Thursday, March 16, 2017, the stock closed the trading session at $16.15, rising 1.51% from its previous closing price of $15.91. A total volume of 4.56 million shares have exchanged hands, which was higher than the 3-month average volume of 3.08 million shares. First Data's stock price surged 10.47% in the last three months, 16.02% in the past six months, and 24.52% in the previous twelve months. Furthermore, on a year to date basis, the stock rallied 13.81%. Shares of the company have a PE ratio of 35.65.
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