ACI Worldwide and Mastercard to Collaborate and Advance New Payment Solutions and Experiences for Customers
September 29 2020 - 3:00AM
Business Wire
ACI and Mastercard will begin their
collaboration by working together to offer industry-leading
technology and expertise to central banks, scheme operators and
market participants to fast-track the migration and modernization
of real-time payment solutions around the world
ACI Worldwide (NASDAQ: ACIW), a leading global provider of
real-time digital payment software and solutions, and Mastercard,
the global multi-rail payments technology company, today announced
that they will partner to provide a wide range of real-time payment
solutions globally. They will initially collaborate to offer
best-in-class central infrastructure, payments localization and
access solutions to central banks, scheme operators, financial
institutions, payment service providers, and other organizations
launching real-time payments initiatives.
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The real-time account-to-account payments market continues to
quickly expand. Prime Time for Real-Time — a recent study analyzing
global real-time, account-to-account payment volumes and forecasts
across 30 global markets — projects a Compound Annual Growth Rate
(CAGR) of 23.4 percent from 2019 to 2024. While existing schemes
around the world are adding new participants and value-added
services, additional country and regional schemes are launching
each year, including more than 20 schemes in varying planning
stages.
With a complementary real-time payments vision, the combination
of Mastercard’s central infrastructure and ACI’s payments access
and real-time message transformation technology delivers an
unmatched end-to-end offering. The new joint solution delivers key
benefits including:
- Flexible deployment options — Mastercard and ACI collaboration
provides deployment options that range from a fully managed service
in the cloud, to supporting on-premise software for government,
central bank and system operator-owned platforms
- Ability to support existing local market requirements — the
joint solution reduces the amount of time to onboard participants
and provides flexibility to accelerate real-time adoption
- ISO20022-first approach — joint real-time capabilities support
organizations today and tomorrow, and provide translation to and
from existing standards
- Digital services — further capabilities to support new digital
services such as request to pay, proxy services and biller
services
- Global proposition, local expertise —Mastercard and ACI
collaboration brings together global reach, international
experience and the local market knowledge
“With more countries and regions embarking on the modernization
of their payments systems to capitalize on real-time technologies
and customer demand, the market opportunity is significant,” said
Paul Stoddart, President of New Payment Platforms, Mastercard.
“Working together with ACI, we will explore a wide range of
opportunities to accelerate the development and usage of real-time
and multi-channel payment platforms, driving choice and innovation
to market participants and end customers.”
“Mastercard and ACI share an extensive and complementary track
record of real-time payments success — driving global central
infrastructure clearing and settlement schemes, and this
partnership creates the most robust and complete set of real-time
capabilities in the market today,” said Craig Saks, Chief Strategy
and Transformation Officer, ACI Worldwide. “Our companies are the
leaders in real-time payments and aligning on an end-to-end
solution will provide great benefit not only to banks and central
infrastructures, but to merchants, billers, fintechs and
intermediaries — and their customers — as well.”
Mastercard is a leading provider of account-to-account and card
payments technology globally, with markets including the US, UK and
Singapore as real-time payment infrastructure customers. ACI
currently supports 18 real-time domestic schemes around the world,
including Zelle and TCH in the US. 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 powers digital 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 bill presentment and payment services. Through our
comprehensive suite of software solutions delivered on customers’
premises, through the public cloud or through ACI’s private cloud,
we provide real-time payment 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 Mastercard (NYSE: MA) www.mastercard.com
Mastercard is a global technology company in the payments
industry. Our mission is to connect and power an inclusive, digital
economy that benefits everyone, everywhere by making transactions
safe, simple, smart and accessible. Using secure data and networks,
partnerships and passion, our innovations and solutions help
individuals, financial institutions, governments, and businesses
realize their greatest potential. Our decency quotient, or DQ,
drives our culture and everything we do inside and outside of our
company. With connections across more than 210 countries and
territories, we are building a sustainable world that unlocks
priceless possibilities for all.
© Copyright ACI Worldwide, Inc. 2020 ACI, ACI Worldwide, ACI
Payments, Inc., ACI Pay, Speedpay 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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ACI Dan Ring dan.ring@aciworldwide.com 781-370-3600
Mastercard James Thorpe James.Thorpe@mastercard.com +44 20 7557
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