ACI Worldwide Powers Successful Launch of DuitNow Real-Time Payments in Malaysia
January 14 2019 - 2:00AM
Business Wire
ACI’s UP Real-Time Payments solution serves as
foundation for Malaysia’s new DuitNow service and further
e-Payments innovation across the region
ACI Worldwide (NASDAQ: ACIW), a leading global provider of
real-time electronic payment and banking solutions, today announced
that Payments Network Malaysia Sdn Bhd (PayNet), the national
payments network and central infrastructure provider, has
implemented Malaysia’s Real-Time Retail Payments Platform (RPP)
using ACI’s UP Real-Time Payments solution. The first service
offered to the public under the platform is DuitNow, an instant
credit transfer with a national addressing database that links
mobile numbers and national ID numbers to account numbers.
DuitNow allows bank customers to send money instantly and
securely to accounts that are addressed by easily known
identifiers, such as mobile phone numbers, identity card or
passport numbers, and business registration numbers. The service
aims to displace cash with simple and convenient internet and
mobile payments, and has the potential to transform Malaysia’s
payments ecosystem with immediate 24x7 funds availability.
Following the launch of DuitNow, PayNet and ACI are now focused
on the progressive introduction of new payments services, including
QR Payments as well as Request-to-Pay, e-Mandates and Real-Time
Debit, which are expected to transform how businesses collect
payments in Malaysia. Corporate customers will also benefit from
DuitNow’s extended message payload that allows DuitNow payment
messages to carry information needed to complete business
transactions.
“RPP and DuitNow are the foundation for payments transformation
in Malaysia, which is aimed at modernizing the e-Payments ecosystem
and driving innovation for the country’s more than 31 million
residents. PayNet’s vision goes beyond just Malaysia – we aim to
build links across the ASEAN region to enable cross-border instant
credits and P2P payments, with an initial focus on our neighbouring
countries,” said Peter Schiesser, Group CEO, PayNet.
“ACI’s UP Real-Time Payments provides the flexibility and
scalability that PayNet needs to continue making material steps
towards greater ASEAN payments integration – streamlining both
business and personal financial flows across the region,” added Mr
Schiesser.
“ACI is proud to partner with PayNet to address the changing
needs of the Malaysian payments ecosystem as it evolves and
matures, positioning the country as a regional and global payments
leader as the trend from cash-based transactions to cashless
societies gathers pace,” said Leslie Choo, Managing Director, Asia,
ACI Worldwide. “The launch of DuitNow marks a significant milestone
in Malaysia’s real-time transformation – one that has required
close collaboration not only between ACI and PayNet, but also with
more than a dozen member banks that are bringing these new services
to the public.”
ACI has an unmatched global customer base of financial
institutions and payment service providers using its
UP Immediate Payments solution. In the UK, the solution
has been used by financial institutions to access the UK Faster
Payments scheme since its launch in 2008. Currently more than 50
percent of the scheme’s payments are being processed by ACI
solutions. Additionally, ACI has customers using UP Immediate
Payments to access Singapore FAST and the Australian NPP (New
Payments Platform). ACI is implementing The Clearing House RTP
system and Zelle for customers in the US, and serves on the ISO
20022 Real-Time Payments Group and the EPC Instant Payments
Technology Group.
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.
About PayNetPayments Network Malaysia Sdn Bhd (PayNet) is
Malaysia's premier payments network and central infrastructure for
financial markets. We innovate, build and operate world-class
payment systems and financial market infrastructures that safely,
reliably and efficiently enable the functioning and development of
Malaysia's financial system as well as the economy as a whole. With
Bank Negara Malaysia as PayNet's single largest shareholder and
eleven major financial institutions as joint shareholders, PayNet
also serves as a platform to harness the collaborative efforts of
the Malaysian banking system to accelerate the adoption of
electronic payments. For more information, please visit
www.paynet.my
© 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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version on businesswire.com: https://www.businesswire.com/news/home/20190113005020/en/
ACI WorldwideDan RingE-mail:
dan.ring@aciworldwide.comPhone: +1 (781) 370-3600
Christopher Taine (APAC)E-mail:
christopher.taine@aciworldwide.comPhone: +49 (0) 16243 17273
PayNetMs Amy PangE-mail: amy@paynet.myPhone: +603
2264 8689
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