Partnership will combine VocaLink’s
market-leading IPS solution for central payment infrastructures and
ACI’s UP Immediate Payments solution for financial institutions
Combined offering will accelerate the
availability of real-time payments globally and speed up the
adoption in new markets
ACI Worldwide (NASDAQ: ACIW), a leading global provider of
real-time electronic payment and banking solutions,
and VocaLink, a global payments systems company, today announced a
partnership to offer a complete end-to-end immediate payments
solution to launch a domestic or regional immediate payments
network.
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It is the first global strategic partnership of its kind and
will offer participants a pre-integrated solution, enabling quicker
onboarding to the payments scheme and broader reach to more scheme
participants in a fast and efficient manner. As part of the
partnership agreement, VocaLink will provide its Immediate Payments
System solution and connectivity software to clearing houses and
central banks globally; ACI will deliver its UP Immediate Payments
solution, with VocaLink’s Immediate Payments Gateway
pre-integrated, to enable individual organizations such as
financial institutions and other payment providers to access the
scheme and process transactions.
VocaLink offers a global, market-leading solution for central
infrastructures to manage the clearing of real-time payments
according to the rules decided by a particular country or region.
The solution supports the central infrastructures of the UK Faster
Payments and the Singapore FAST schemes, and is also being
implemented in the U.S. at The Clearing House.
ACI’s UP Immediate Payments solution addresses the end-to-end
requirements of financial institutions and payment service
providers, enabling them to integrate and manage their entire
payments ecosystem simply through solution configuration. ACI has
an unmatched global customer base of financial institutions,
payment service providers, fintechs and schemes using its UP
Immediate Payments solution.
Craig Saks, Group President, Strategic Products, ACI Worldwide
comments:“We have enjoyed a long relationship with
VocaLink—collaborating on faster payments initiatives dating back
to the first launch of Faster Payments in the UK. This new joint
effort allows organizations to leverage the benefits of real-time
payments with certainty, and also minimizes delivery risk.“By
providing our customers with a pre-certified solution that is
already tightly integrated with the VocaLink IPS real-time payment
system, we can simplify the challenge of real-time enablement that
customers face, and significantly reduce the integration required;
this ensures that they are able to offer real-time payments to
their customers as quickly as possible.”
Paul Stoddart, Managing Director, Strategy, Products, Marketing
and Business Development, VocaLink comments:“At a time when
numerous regions and countries look to launch their own faster
payments scheme, the combined offering is a powerful proposition to
activate an immediate payments processing environment in an
expedited manner.“We’re looking forward to working with ACI, to
leverage its world-class solution to payment service providers
looking to access real-time payment schemes powered by VocaLink.
Together, we will be able to offer the market-leading, real-time
payments system to a far greater number of banking customers, and
allow millions of people use of the most efficient payments
system.”
Steve Ledford, Senior Vice President, Product and Strategy at
The Clearing House adds:“This (partnership) will further support
the ubiquity of real-time payments and accelerate adoption in the
US.”
ACI currently supports over 60 percent of the direct
participants in UK Faster Payments; the company also processes for
Singapore’s FAST system and is deploying NPP in Australia. VocaLink
operates the UK national payments infrastructure, which processes
90 percent of UK salaries, more than 70 percent of household bills
and almost all state benefits. It also implemented the FAST service
in Singapore and processes the majority of Sweden’s automated
payments. VocaLink empowers businesses and consumers to move money
by sharing technology and payment industry expertise.
About VocaLinkVocaLink is a global payments partner to
banks, corporates and governments. VocaLink designs, builds and
operates world-class platforms that make it easier for people to
make payments confidently and securely. In the UK, VocaLink
processes over 90 percent of salaries, more than 70 percent of
household bills and almost all state benefits. It implemented the
FAST service in Singapore and processes the majority of Sweden’s
automated payments. VocaLink’s high availability, resilient payment
systems power the Faster Payments Service on behalf of the Faster
Payments Scheme, the Account Switching platform, Bacs and the
Direct Debit Scheme. VocaLink also connects the world’s busiest
network of over 70,000 ATMs through the LINK scheme. Last year
VocaLink processed over 11 billion transactions with a value of £6
trillion - powering economies and empowering people. For payment
news and insight go to http://connect.vocalink.com/.
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 and SaaS-based
solutions, we deliver 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. 2016.ACI, ACI Payment Systems,
the ACI logo 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: http://www.businesswire.com/news/home/20160926005151/en/
ACI WorldwideKatrin Boettger, +44 (0)7776 147
910katrin.boettger@aciworldwide.comorDan Ring,
781-370-3600dan.ring@aciworldwide.comorVocaLinkDavid Daniel,
+44 (0)78 6767 6078david.daniel@vocalink.comorEllie Fixter, +44
(0)20 3818 4944ellie.fixter@vocalink.com
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