ACI Worldwide Powers Digital Innovation and Financial Inclusion for Egyptian Banks Company
July 08 2019 - 2:00AM
Business Wire
Egyptian Banks Company enters new phase of
long-standing relationship with ACI as it prepares for launch of
national payments scheme
ACI Worldwide (NASDAQ: ACIW), a leading global provider of
real-time electronic payment and banking solutions, today announced
that Egyptian Banks Company (EBC) has completed its transition to
the latest version of ACI’s UP Retail Payments solution. EBC, the
central domestic infrastructure provider for payments in Egypt and
an ACI customer for more than 20 years, has committed to extending
its licensing agreement to continue a long-standing and successful
collaboration in one Africa’s most innovative markets.
EBC, which connects 38 member banks, has ambitious growth plans
and seeks to increase financial inclusion in Egypt by leveraging
digital innovation. ACI’s UP Retail Payments solution, featuring UP
BASE24-eps, provides EBC with a next-generation payments engine
that serves as a foundation for the development of new payments
services, including the launch of Egypt’s national payment
scheme.
“ACI has delivered robust and reliable core payment processing
for our nationwide ATM scheme for many years,” said Tarek Raouf,
Chairman & CEO, Egyptian Banks Company. “As we expand the range
of services that we offer – including support for point-of-sale and
eCommerce transactions – we need payments technology that offers
broad functionality and can adapt quickly to changing market
conditions. Because the proven reliability of ACI’s solution is
complemented with easily configurable modules, EBC is in a strong
position to drive the longer-term trend toward a cashless
society.”
“EBC has relied upon the stability and scalability of our
enterprise-class payments solution for more than two decades – the
successful transition to UP BASE24-eps opens up new opportunities
through access to flexible modules and the full portfolio of ACI’s
UP solutions,” said Mandy Killam, executive vice president &
growth markets leader, ACI Worldwide. “We’re excited to enter this
next phase of cooperation with EBC, which promises significant
growth in payments volume as the shift to cashless payments gathers
pace.”
ACI's UP Retail Payments solution enables institutions to
acquire, authenticate and authorize, route and protect card and
digital payments from multiple channels. ACI’s Universal Payments
solutions are relied upon by 18 of the world’s top 20 banks and the
company has customer in more than 80 countries. Universal Payments
bridges the features and functionalities of financial institutions’
current systems with next-generation technologies, ensuring they
can continue business as usual while adding new services and
innovating in a protected environment.
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, ACI
Payment Systems, the ACI logo, ACI Universal Payments, UP, the UP
logo, ReD, PAY.ON and all ACI product 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.
Product roadmaps are for informational purposes only and may not
be incorporated into a contract or agreement. The development
release and timing of future product releases remains at ACI’s sole
discretion. ACI is providing the following information in
accordance with ACI's standard product communication policies. Any
resulting features, functionality, and enhancements or timing of
release of such features, functionality, and enhancements are at
the sole discretion of ACI and may be modified without notice. All
product roadmap or other similar information does not represent a
commitment to deliver any material, code, or functionality, and
should not be relied upon in making a purchasing decision.
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Dan Ring Email: dan.ring@aciworldwide.com Phone: +1 (781)
370-3600
Christopher Taine Email: christopher.taine@aciworldwide.com
Phone: +49 (0) 89 45230 557
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