ACI Worldwide Transforms Payments and Security for Chile’s Largest Acquirer
May 20 2019 - 8:00AM
Business Wire
Transbank upgrades debit and credit card
processing system to maintain competitive edge and comply with new
government regulations
ACI Worldwide (NASDAQ: ACIW), a leading global provider of
real-time electronic payment and banking solutions,
today announced that Transbank, the largest acquirer in Chile and
an existing ACI customer, is now taking advantage of ACI’s UP
Retail Payments solution to offer differentiated services to
businesses, maintain a competitive edge in the market and better
comply with local card scheme mandates.
Founded as a credit card processing intermediary in Chile,
Transbank has led the development of digital payments for almost 30
years. It plays a critical role in the Chilean economy, responsible
for a significant part of the payments flow nationally and the
exchange of payments abroad. The company’s backend processing
system was due for an upgrade, and at the same time, the Chilean
government regulations pushed to open the country’s acquiring
business, allowing new players to enter the market. To maintain its
competitive edge and comply with local card scheme mandates,
Transbank chose to update its system with ACI’s UP Retail Payments
solution.
“In the payments industry, change is the only constant, and to
stay relevant, we need to continue to transform our business,” said
Vicente Tredinick, Chief Information and Operations Officer,
Transbank. “Our goal is to continue innovating the Chilean economy
toward even broader global integration. ACI’s UP Retail Payments
solution provides us with the ability to bridge the features and
functionalities of our existing system with next-generation
technologies, so that we can continue business-as-usual while
adding new services - to boost revenue growth - and innovating in a
protected environment.”
Transbank now has the flexibility to capitalize on market
opportunities by offering differentiated services to businesses,
and comply with the new government regulations. In addition, the
organization is better able to support the more than 300,000
businesses that are configured into its system, processing volumes
of five million transactions per day.
In the future, Transbank will also benefit from ACI’s UP
Payments Risk Management solution, which will help bolster security
through a combination of machine learning, advanced analytics and
fraud and payments data.
“Real-time payments is already a reality in Chile, and moving to
an open digital banking environment is necessary to compete today,”
said Marco Bravo, vice president, Latin America, ACI Worldwide. “As
a leader in the market, Transbank is future-proofing its business
with flexible capabilities that drive speed-to-market and allow the
company to compete successfully, while increasing customer
retention and delivering even higher shareholder value.”
ACI’s UP Retail Payments solution combines the features and
functionalities of current systems and next-generation technologies
in a coexistence environment to deliver a digital payments
experience. The power of ACI’s UP Retail Payments lies within the
UP Framework, which is built on an open service-oriented
architecture, delivering robust orchestration that enables easy
integration with multiple systems as well as support for card,
non-card and alternative payments, among other benefits.
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. 2019ACI, 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.
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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version on businesswire.com: https://www.businesswire.com/news/home/20190520005116/en/
Dan RingE-mail: dan.ring@aciworldwide.comPhone: 781-370-3600
Nidhi AlbertiE-mail: nidhi.alberti@aciworldwide.comPhone:
781-370-3600
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