ACI Worldwide Expands Benefits of Real-Time Payments to Any Digital Channel for Consumers, Merchants and Billers
May 26 2020 - 02:00AM
Business Wire
New functionality in ACI’s UP Immediate
Payments solution addresses global demand for real-time and digital
payments during and beyond COVID-19 pandemic
ACI Worldwide (NASDAQ: ACIW), a leading global provider of
real-time electronic payment and banking solutions, today announced
the launch of a series of new capabilities in its UP Immediate
Payments solution. To address the increased demand for new
real-time and digital payments during and beyond the pandemic, UP
Immediate Payments now offers extended API capabilities for simple
integration into any digital channel—including internet banking,
mobile banking, mobile wallets, eCommerce portals, bill pay apps
and social media payments.
These capabilities bring the benefits of real-time payments to
additional digital channels for consumers, merchants and billers.
Leveraging recent product investments to support India’s Unified
Payments Interface (UPI), the highest volume real-time scheme
globally, the new capabilities are now available to support
customers and schemes around the world.
UP Immediate Payments is a configurable pre-packaged, end-to-end
solution offering a complete range of capabilities for processing
real-time payments, including origination, processing,
orchestration, clearing and settlement, fraud detection and
connectivity—all on a single platform. The solution enables
financial institutions and payment service providers to complement
their existing infrastructure, lower costs and maximize investment
value.
“Real-time payments are set to experience explosive growth
worldwide, with the global pandemic highlighting the need for new
and innovative digital payment options more than ever before,” said
Craig Ramsey, general manager and head of real-time payments, ACI
Worldwide. “The new capabilities within our UP Immediate Payments
solution will enable financial institutions to be real-time ready,
while at the same time create new value-added services for
consumers and financial institutions.
UP Immediate Payments offers additional business functionality
to support organizations in a high-volume, data-rich digital
payments ecosystem, including:
- Support for Request for Pay (RfP), Person-to-Person (P2P) and
recurring payments
- Stand-in authorization, liquidity management, batch processing,
transaction warehouse, transaction reconciliation, case
management
- Pre-integration with other ACI solutions, including UP Retail
Payments to deliver real-time balance capabilities, UP Payments
Risk Management for real-time fraud prevention, as well as the
digital overlay capabilities of ACI partner Mindgate
- Creation of single customer view across the institution through
APIs enabled for integration into any other banking system and
data
ACI has multiple deployment models to support quick onboarding
to any immediate payments scheme. UP Immediate Payments is
available on premise, in the public cloud or in a managed platform
environment. It is available ‘as a service’ in ACI’s data centers
for organizations in the U.S. and Europe.
Unlike in-house builds or core banking extension projects, UP
Immediate Payments is a real-time native, highly configurable,
globally proven solution. Financial institutions worldwide are
successfully leveraging the solution to support multiple global
schemes and add-on capabilities from a single implementation. ACI
currently supports 18 real-time domestic schemes around the world,
including Zelle and TCH in the US, and will support FedNow as it
moves toward production. Approximately 50 percent of the UK’s
Faster Payments (UKFP) and 75 percent of Hungary’s GIRO
transactions are processed through UP Immediate Payments. The
solution is also the core processing infrastructure for Malaysia’s
Real-Time Retail Payments Platform (RPP), and STET’s real-time
payments platform for PSPs in Europe. Additionally, ACI has
customers using UP Immediate Payments to access Singapore FAST and
the Australian NPP (New Payments Platform).
About ACI Worldwide
ACI Worldwide, the Universal Payments (UP) company, powers
electronic payments for more than 6,000 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. 2020 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.
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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Media Contacts Dan Ring dan.ring@aciworldwide.com
781-370-3600
Katrin Boettger Katrin.boettger@aciworldwide.com 0044 (0) 7776
147910
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