Cox Business, Acculynk Partner on SMB Payment Service
Cox Business announced it has expanded its portfolio of small and midsize business (SMB) solutions with the addition of PayLeap, a cloud-based merchant and card processing service through a strategic relationship with Acculynk, a company which secures online transactions through a suite of software-only services backed by an authentication and encryption framework.
This service will be offered to all 300,000 Cox Business customers later this year after the successful pilot program. Included with PayLeap are gateway services and merchant services. These merchant services also include PayLeap's Growth Advantage Tools that are designed to help small businesses take advantage of additional sales channels, growth opportunities and time-saving technologies.
For example, PayLeap Mobile is pre-integrated into social media, and consumers have the option to automatically share their purchases on their social sites of choice. The platform includes a portable payment button that can be embedded in Facebook, ads or emails.
PayLeap Mobile also includes the company’s TwitPay social sales engine that uses Twitter to create viral offer distribution and embedded purchasing. Re-tweeting activates the pay page and sends re-tweets along to follower after follower. LeapLock secures all online transactions for more robust payment card industry (PCI) compliance. Unlimited secure customer data storage in Acculynk’s PCI certified encryption vault helps enable easier recurring payments and customer data recall for faster checkout.
"As our business customers embrace cloud-delivered solutions to improve business performance, Cox Business will continue to bring the best of those to them–together with data, voice and video services," Asheesh Saksena, executive vice president and chief strategy officer at Cox Communications, said in a statement. "Most businesses collect payments and PayLeap is an industry leading, cloud-delivered solution that offers SMBs an efficient, simple-to-use, cost-saving alternative."
In addition, Cox Business customers will have access to Internet personal identification number (PIN) debit, a PayLeap exclusive payment method that allows e-commerce merchants to steer consumers to PIN debit through PaySecure, Acculynk's online, graphical PIN pad.
Consumers want more choices when it comes to shopping online, more control over when their purchases will be delivered and a convenient returns process. They’re also using social media to shop for the best deals and expect more shipping options from e-tailers, according to a report commissioned by UPS and conducted by comScore.
Mobile and social channels continue to change the way consumers shop–46 percent said they are less likely to comparison shop when using a retailer’s mobile app, and 47 percent said they want a retailer to send a coupon to their smartphone when they are in-store or nearby. Not surprisingly, 84 percent of online shoppers use at least one social media site. Among Facebook users–the most popular channel–60 percent “like” a brand to receive an incentive or promotion.
The survey found 44 percent would more likely shop with a retailer if they could buy online and pick up the item in the store and 62 percent want the ability to buy online and return items to a store.