B2B Payments

ACI Taps Bancorp, Visa For Real-Time Payments

ACI Worldwide Visa partner

ACI Worldwide is working with The Bancorp’s Direct Rapid Funds platform — powered by Visa Direct — for real-time corporate disbursements, The Bancorp announced on Tuesday (Jan. 21). 

“The surge in demand for payments that are faster, less expensive and more accessible has created an opportunity that The Bancorp is fulfilling with forward-thinking technology,” said Matt Carberry, executive vice president and head of payment acceptance at The Bancorp. 

He noted that, with partners like Visa and ACI Worldwide, its “intuitive and customizable” Direct Rapid Funds platform gives companies of any size “access to cutting-edge payments solutions.” The platform uses push-to-card payments technology to offer faster payments to all corporate clients. 

“Today’s businesses expect fast, easy and secure ways to pay,” said Sanjay Gupta, executive vice president of ACI Worldwide. He added that ACI’s development of real-time payments helps fulfill “evolving expectations,” and “deliver businesses a transformational payment experience” through its coordination with The Bancorp.

The Bancorp currently facilitates more than 35 million faster payment transactions each month. 

“We’re excited to work with The Bancorp to build out a real-time payments platform for ACI Worldwide through the use of Visa Direct,” said Mike West, vice president of business and government disbursements at Visa. “Together, we are meeting the needs of businesses today for secure, easy and fast ways to pay by providing access to a platform that brings a cutting-edge and reimagined payments experience.”

Technological innovations, combined with consumer demand and the evolution of the payment service provider landscape, are driving faster payments adoption in the U.S. As the demand for real-time payments grows, businesses are seeing significant value in faster and real-time payment capabilities.

When it comes to corporate transactions, the payments landscape is full of hurdles. Wells Fargo, for example, announced in November that it was integrating with the Real-Time Payments (RTP) network for its business customers.

——————————

LATEST PYMNTS REPORT: B2B API TRACKER 

Social distancing has changed eCommerce from a ‘want to have’ to a ‘must have’ for businesses, yet retailers could struggle to create convenient payment and refund experiences for their apps and websites, says Abdul Raof Latiff, head of DBS Bank’s digital institutional banking group. In the April 2020 B2B API Tracker, Latiff explains how banks can provide a timely assist via application programming interfaces (APIs) that integrate payments into those eCommerce platforms.

TRENDING RIGHT NOW