ACI Worldwide Ready for Saudi Arabia’s Real-Time Payments Launch
May 07 2019 - 2:00AM
Business Wire
ACI extends strategic global partnership with
Vocalink into Saudi Arabia, enabling fast bank adoption of
real-time payments through ACI’s UP Real-Time Payments solution
ACI Worldwide (NASDAQ: ACIW), a leading global provider of
bank real-time electronic payment solutions, today announced
that it is aiding fast bank adoption of real-time payments in Saudi
Arabia with its UP Real-Time Payments solution.
ACI’s solution offers participating Saudi banks faster and
lower-risk onboarding to the new real-time services through its
global partnership with Vocalink, a Mastercard company and a
leading technology provider, which announced last week that it has
partnered with the Saudi Arabian Monetary Authority (SAMA) to
launch real-time payments in the Kingdom.
The partnership between ACI Worldwide and Vocalink combines
Vocalink’s IPS solution for central payment infrastructures and
ACI’s UP Real-Time Payments solution for financial institutions.
Leveraging success from the US market, the combined offering will
accelerate the availability of real-time payments in Saudi Arabia
by re-using existing, proven product level integration, thus
helping banks to quickly join the SAMA scheme using ACI’s
solution.
“ACI’s Real-Time Payments will provide Saudi Arabia’s financial
services sector with the industry’s most complete platform to
launch innovative new services based around real-time payments,
while minimizing delivery risk,” said Craig Saks, Chief Operating
Officer, ACI Worldwide. “ACI already powers real-time payments in
the US, across Europe, Asia and Australia – a reflection of the
growing ubiquity of real-time payments globally. Our partnership
with Vocalink is part of what ACI already does, and the extension
of our partnership to Saudi Arabia further solidifies ACI’s ability
to help banks leverage speed-to-market for access to real-time
payments.”
“As the Kingdom of Saudi Arabia pushes forward with the
modernization of its financial services sector, it joins a growing
list of countries that are making real-time payments a cornerstone
of their digital payments transformation efforts,” said Paul
Stoddart, President, New Payment Platforms, Mastercard. “Our
offering is a powerful proposition to Saudi Arabia’s financial
services sector to activate a real-time processing environment in
an expedited manner, improve efficiency in payments systems and
ready the Kingdom for a digital payments future.”
ACI Worldwide currently supports real-time payments around the
world, including live customers in Australia, Singapore, Thailand,
Malaysia, Europe and throughout North America. ACI has a long
history working with financial institutions in Saudi Arabia and won
the award for ‘Best Use of Emerging or Innovative Technology’ at
the 2019 MEFTECH Innovation awards. Click here to visit our Saudi
landing page.
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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ACI WorldwideDan RingEmail:
dan.ring@aciworldwide.comPhone: +1 (781) 370-3600
Katrin BoettgerEmail: katrin.boettger@aciworldwide.comPhone: +44
(0) 7776 147910
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