Real-time digital payment software platform ACI Worldwide on Tuesday (Dec. 14) announced it has partnered with digital payments firm KyckGlobal to improve digital disbursements for U.S. biller organizations, including international and cash payments.
KyckGlobal uses a cloud-based payments engine with myriad payment types — including PayPal, Venmo, ACH, wires, gift cards, push to card, cash and others — which originate from a single point of funding and reconciliation, which eliminates disbursement delays and payees can get money in their local currency, according to a press release.
“KyckGlobal’s goal is to ensure businesses sending payments, such as refunds from higher educational institutions and insurance claim payments, can do so in a streamlined capacity while providing speed and choice to the consumer,” Ashish Bahl, founder and CEO of KyckGlobal, said in the announcement.
“ACI’s vast experience in the bill pay space positions them as a primary partner in helping us achieve that goal,” he said.
ACI Speedpay covers a variety of vertical markets, including consumer finance, government, education, healthcare, insurance, telecommunications, cable, subscriptions and utilities. The mobile wallet billing and payment capability improves the consumer experience while reducing costs.
“ACI continues to evolve its digital disbursement capabilities, and the partnership with KyckGlobal further strengthens our ability to meet consumers’ needs — enabling them to receive funds quickly, conveniently and through methods that they most prefer,” said Sanjay Gupta, head of biller segment, ACI Worldwide, in the announcement.
“Insurance companies are a great example of businesses that need to send payments to their customers quickly. And we look forward to offering these advanced disbursement capabilities with customer choice to all the industry verticals that we serve,” he said.
Related: 44% of UK Grocery Shoppers Spend More at Stores With Loyalty Programs
PYMNTS and ACI conducted a two-part study about payments in the grocery industry, surveying 2,501 U.K. consumers from Sept. 14 to Sept. 17 about their preferences for buying groceries both online and in-store to learn how shoppers adjusted their grocery shopping habits as the COVID-19 pandemic progressed and how retailers responded to hold onto customers’ loyalty.
Among the key findings is that almost half (48%) of U.K. consumers who buy groceries currently make the purchases online and more than 3 out of 5 (64%) U.K. grocery shoppers say they continue to buy groceries online because they fear infection.
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