ACI Worldwide Launches Real-Time Disbursement Services to Bill Payments Portfolio
June 25 2019 - 8:00AM
Business Wire
As market demand for instant disbursements
increases, ACI offers organizations a convenient way to disburse
funds directly to consumers’ debit cards
ACI Worldwide (NASDAQ: ACIW), a leading global provider of
real-time electronic payment and banking solutions, today announced
the launch of ACI Disbursement Services™. Part of ACI’s
comprehensive UP Bill Payment solution, Disbursement Services
allows businesses to send money to consumers’ bank accounts in
real-time using their debit card. Backed by two of the world’s
largest electronic payment networks, debit card disbursements use
Visa Direct and Mastercard Send real-time payments platforms.
According to Aite Group, 65 percent of U.S. consumers report
that it is important to be able to receive instant payments from
businesses or government agencies that owe them money, and 70
percent report that they would select an instant payment option for
disbursements if it were available. With ACI Disbursement Services,
banks, insurance companies and other organizations that offer
claims, reimbursements, student refunds, rebates, payouts, and
other similar payments can offer a convenient way to disburse funds
to consumers and small businesses on the debit cards they already
carry. In addition, it provides an easier and faster option than
ACH or check disbursements as well as the option to integrate with
ACH and check disbursements.
“Consumers want to be paid instantly when they are owed money,
and they want to choose the payment method for disbursements
received,” said Talie Baker, senior analyst, retail banking and
payments practice, Aite Group. “In addition, convenience and speed
are the most important factors U.S. consumers consider when
choosing a payment method for disbursements. However, most
disbursement payments take two or more days to arrive, which can
lead to a poor consumer experience. Offering a solution to this
growing market challenge will be important as the number of
disbursements are expected to double in the next two years.”
“As the market moves toward digital engagement, our goal is to
provide a great consumer experience,” said Parker Kelley, chief
financial officer, KW Specialty Insurance, a specialty insurance
company that partners with the wholesale distribution channel,
specializing in personal lines, commercial property and casualty,
and reinsurance. “Paper checks are cumbersome and costly from an
operational point of view. Moreover, it takes much longer for
consumers to receive funds owed to them. ACI’s solution offers
businesses like ours a way to cut costs, engage our consumers with
multiple digital solutions, and provide fast efficient
service.”
“It currently takes several days to send out disbursements to
consumers, which is unacceptable in a world where consumer
expectations for instant and digital payments are high. This is
especially true with the Gen Z population, whose biggest challenge
is the speed with which they receive money,” said Sanjay Gupta,
executive vice president, ACI Worldwide. “And in a situation where
a consumer may be displaced due to a natural disaster, these
expectations are non-negotiable as far as the consumer is
concerned. We’re excited to launch ACI’s Disbursement Services to
help transform consumers’ payment experience and reduce business
costs associated with printing and mailing checks.”
Disbursement Services is one of the many different services that
are part of ACI’s UP Bill Payments solution – a comprehensive,
integrated platform proven to raise customer satisfaction by 25
percent. UP Bill Payment offers a single, integrated platform that
powers the entire bill payments operation, so businesses can
streamline the complexities of bill presentment and payment
processing to improve results while eliminating application silos.
It provides a seamless consumer experience across all billing and
payment channels.
About ACI Worldwide ACI 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, 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20190625005093/en/
Media Contacts: Dan Ring E-mail:
dan.ring@aciworldwide.com Phone: 781-370-3600
Nidhi Alberti E-mail: nidhi.alberti@aciworldwide.com Phone:
781-370-3600
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