Under the terms of the agreement, Tyfone has integrated Acculynk’s person-to-person (P2P) money movement service, Payzur, into the Tyfone-based mobile banking iPhone and Android applications adopted by Boulder Valley Credit Union (BVCU). With Payzur, BVCU members can log into the app, enter their PIN and send a P2P payment to an email address or mobile phone number.
BVCU has been using Tyfone’s mobile financial services since April 2013 and with the addition of Acculynk’s P2P offering, BCVU members are able to send payments from their mobile devices to friends, family and others with recipients having immediate access to funds.
Acculynk’s Payzur is a white-labeled P2P service that allows a customer to send funds by authenticating the mobile- or Web-initiated transaction with his bank-issued PIN via the PaySecure patented online graphical PIN pad. Since Payzur is not ACH-based, there is no enrollment or waiting period for consumers to begin using the service.
Acculynk provides a suite of software-only services backed by an authentication and encryption framework that provides security for issuers, EFT networks, merchants and payment processors.
Tyfone is focused on mobile security and transaction services for financial, government, B2B, healthcare, and other enterprises. It has 450 issued invention claims and has 90 issued and pending patents that enable ID and transaction security on any mobile device.
In recent news, Acculynk has partnered Cox Business, a broadband communications and entertainment company, to enable the latter to expand its portfolio of business solutions by adding payment solution PayLeap.
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