Capitec Bank Poised to Expand its Payments Business Through ACI Worldwide’s Retail Payments Solution
March 13 2019 - 3:00AM
Business Wire
Capitec, one of South Africa’s leading retail
banks, extends relationship with ACI, utilizing UP Retail Payments
solution to future-proof its payments technology
ACI Worldwide (NASDAQ: ACIW), a leading global provider of
real-time electronic payment and banking solutions, today
announced an extension of its long-standing relationship with
Capitec Bank, South Africa’s second largest retail bank. Capitec, a
long-time ACI customer, now supports card and non-card payments
acceptance through the UP Retail Payments solution – an integrated
platform for all payment channels.
Capitec, which has long relied upon ACI’s Postilion integrated
payments engine, is expanding its usage of ACI’s Universal Payments
offerings to benefit from the enhanced flexibility of the UP Retail
Payments solution. Based on the Universal Payments Framework (UPF),
this allows configuration-based deployment of new payment services,
which speeds time to market and increases self-service options for
Capitec as it further expands its business and corporate banking
services.
“We anticipate significant growth in transaction volume over the
next ten years, as a variety of innovative digital payments
products are launched – the combination of scalability and
flexibility that ACI’s UP Retail Payments solution offers will not
only support that growth, but also ensure we’re future-proofing our
payments environment,” said Japie Britz, Systems Development
Manager – Card Processing, Capitec Bank. “Transitioning to
service-based architecture will reduce time-to-market and equip us
to respond to global payments trends, enabling us to not only
maintain, but expand our leadership position within South Africa’s
financial services and banking sector.”
“Africa continues to be fertile ground for fintech and payments
innovation, and South Africa – as the continent’s second largest
economy – plays a key role,” said Manish Patel, vice president, ACI
Worldwide. “Financial institutions need to move quickly to succeed
in this challenging and dynamic environment, without compromising
security and resilience of their core banking systems. Continuing
its long-standing cooperation with ACI and use of Postilion,
Capitec is strongly placed to grow its market share, leveraging
more of our device and channel-agnostic payments technology as the
needs of its customer base evolve.”
ACI supports core payment processing for Capitec with its
enterprise-class UP Retail Payments solution, which is based on the
Universal Payments (UP) Framework and built on open
service-oriented architecture for robust payments orchestration.
The solution, which delivers 24x7 secure payment capabilities and
is currently used by 8 of the world’s top 10 banks, allows Capitec
to create and expose payment services to external entities and to
address PCI compliance requirements through tokenization.
About ACI WorldwideACI 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 RingEmail: dan.ring@aciworldwide.comPhone: +1 (781)
370-3600
Christopher TaineEmail: christopher.taine@aciworldwide.comPhone:
+49 (0) 89 45230 557
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