ACI Worldwide (NASDAQ:ACIW)
Historical Stock Chart
6 Months : From May 2019 to Nov 2019
As market demand for instant disbursements increases, ACI offers organizations a convenient way to disburse funds directly to consumers’ debit cards
ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic payment and banking solutions, today announced the launch of ACI Disbursement Services™. Part of ACI’s comprehensive UP Bill Payment solution, Disbursement Services allows businesses to send money to consumers’ bank accounts in real-time using their debit card. Backed by two of the world’s largest electronic payment networks, debit card disbursements use Visa Direct and Mastercard Send real-time payments platforms.
According to Aite Group, 65 percent of U.S. consumers report that it is important to be able to receive instant payments from businesses or government agencies that owe them money, and 70 percent report that they would select an instant payment option for disbursements if it were available. With ACI Disbursement Services, banks, insurance companies and other organizations that offer claims, reimbursements, student refunds, rebates, payouts, and other similar payments can offer a convenient way to disburse funds to consumers and small businesses on the debit cards they already carry. In addition, it provides an easier and faster option than ACH or check disbursements as well as the option to integrate with ACH and check disbursements.
“Consumers want to be paid instantly when they are owed money, and they want to choose the payment method for disbursements received,” said Talie Baker, senior analyst, retail banking and payments practice, Aite Group. “In addition, convenience and speed are the most important factors U.S. consumers consider when choosing a payment method for disbursements. However, most disbursement payments take two or more days to arrive, which can lead to a poor consumer experience. Offering a solution to this growing market challenge will be important as the number of disbursements are expected to double in the next two years.”
“As the market moves toward digital engagement, our goal is to provide a great consumer experience,” said Parker Kelley, chief financial officer, KW Specialty Insurance, a specialty insurance company that partners with the wholesale distribution channel, specializing in personal lines, commercial property and casualty, and reinsurance. “Paper checks are cumbersome and costly from an operational point of view. Moreover, it takes much longer for consumers to receive funds owed to them. ACI’s solution offers businesses like ours a way to cut costs, engage our consumers with multiple digital solutions, and provide fast efficient service.”
“It currently takes several days to send out disbursements to consumers, which is unacceptable in a world where consumer expectations for instant and digital payments are high. This is especially true with the Gen Z population, whose biggest challenge is the speed with which they receive money,” said Sanjay Gupta, executive vice president, ACI Worldwide. “And in a situation where a consumer may be displaced due to a natural disaster, these expectations are non-negotiable as far as the consumer is concerned. We’re excited to launch ACI’s Disbursement Services to help transform consumers’ payment experience and reduce business costs associated with printing and mailing checks.”
Disbursement Services is one of the many different services that are part of ACI’s UP Bill Payments solution – a comprehensive, integrated platform proven to raise customer satisfaction by 25 percent. UP Bill Payment offers a single, integrated platform that powers the entire bill payments operation, so businesses can streamline the complexities of bill presentment and payment processing to improve results while eliminating application silos. It provides a seamless consumer experience across all billing and payment channels.
About ACI Worldwide
ACI Worldwide, the Universal Payments (UP) company, powers electronic payments for more than 5,100 organizations around the world. More than 1,000 of the largest financial institutions and intermediaries, as well as thousands of global merchants, rely on ACI to execute $14 trillion each day in payments and securities. In addition, myriad organizations utilize our electronic bill presentment and payment services. Through our comprehensive suite of software solutions delivered on customers’ premises or through ACI’s private cloud, we provide real-time, immediate payments capabilities and enable the industry’s most complete omni-channel payments experience. To learn more about ACI, please visit www.aciworldwide.com. You can also find us on Twitter @ACI_Worldwide.
© Copyright ACI Worldwide, Inc. 2019
ACI, ACI Worldwide, the ACI logo, ACI Universal Payments, UP, the UP logo and all ACI product/solution names are trademarks or registered trademarks of ACI Worldwide, Inc., or one of its subsidiaries, in the United States, other countries or both. Other parties' trademarks referenced are the property of their respective owners.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190625005093/en/