Spindle and Acculynk Sign Distribution Agreement
6821 East Thomas Road
Scottsdale, AZ, 85251
Press release date: June 16, 2014
Relationship Enables Acculynk and Spindle to Deliver a Leading-Edge Payment Aggregation Solution to SMB Merchants for Both Web and Mobile Channels
Scottsdale, AZ — Spindle, Inc., (OTCQB: SPDL), a leading provider of mobile commerce solutions, announced it has signed a strategic agreement with Acculynk, a provider of software-based authentication services for debit cards, to provide merchant aggregation and payment services to US SMB merchants. As part of this agreement, Acculynk will embed Spindle's real-time merchant aggregation platform into its offering to expedite and board merchants on the Spindle payments platform. In addition, Spindle will refer new merchants to Acculynk for processing and gateway services as well as promote Acculynk's proprietary PIN-debit solution that enables international consumers to purchase goods from US- based merchants.
Acculynk is the parent company of PayLeap, a secure payment processing gateway and an existing Spindle business partner, and owner of PaySecure, the standard for PIN-based transactions for e-commerce and mobile transactions. Spindle's platform currently integrates with PayLeap for online transactions, and the company anticipates that it will be able to integrate Acculynk's mobile accounts onto the Spindle platform without disruption to the merchant.
"We're happy to extend Spindle's market reach through our expanded agreement with Acculynk," said Bill Clark, Spindle's chief executive officer. "Acculynk's foothold in the e-commerce and mobile sectors certainly makes them a valued partner. We see enormous potential in working with Acculynk to deliver a number of compelling solutions that will address the escalating demand for mobile and web-based merchant services."
According to Clark, Spindle and Acculynk are currently collaborating on several new innovations that the companies plan to bring to market, including a number of capabilities that will create benefits for both merchants and consumers through the expanded use of PIN-debit acceptance within a tablet POS application.
"We look forward to working with Spindle," said Ashish Bahl, chief executive officer of Acculynk. "This bi-lateral relationship should be a win-win for both parties, and give Acculynk access to a new and viable universe of customers."
About Spindle, Inc.
Spindle is an innovator of mobile commerce solutions for financial services providers and consumer-facing merchants of all sizes. Spindle is focused on pioneering new ways for businesses to rapidly integrate mobile payments acceptance and mobile marketing services while empowering location-based merchant discovery, fulfillment and frictionless mobile payments for consumers. Spindle is dedicated to expanding beyond traditional electronic payment boundaries by offering cutting-edge solutions that allow clients, partners, merchants and consumers to take full advantage of the rapidly emerging mobile economy. Spindle has an extensive proprietary intellectual property portfolio—which include patents pending—that encompass networks, mobile payments, and security. For more information, visit www.spindle.com.
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 PaySecureŽ 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.