Payments Innovation

ACI Worldwide To Power Pan-European Faster Online Payments

ACI Worldwide, a leading global provider of real-time online payments and banking solutions, announced that it will offer its UP Immediate Payments solution via a hosted cloud.

News from Finextra details that this will enable financial institutions across Europe to share connectivity to the EBA RT1 scheme and reduce the costs of real-time operations and time to market.

UP Immediate Payments — offered via ACI Worldwide’s state-of-the art data centre in Limerick, Ireland — helps banks manage software maintenance costs, ongoing regulatory requirements and the risk of uncertain volume projections. In addition, it is complemented by a testing service to ensure fast and seamless deployment of online payments via the cloud.

“ACI’s UP Immediate Payments is a tried and tested solution that empowers financial institutions to offer real-time services to customers in record time,” said Barry Kislingbury, director solution consulting, Immediate Payments, ACI Worldwide. “A critical function of a new real-time payments system is its accessibility to financial institutions of all sizes. For smaller banks with fewer resources, the ability to rely on support from an industry leader like ACI will provide invaluable support as well as time and cost savings.”

The UP instant payments solution has been used by financial institutions to access the U.K. Faster Payments scheme since its launch in 2008. Currently, more than half of the direct participants of the U.K.’s Faster Payments Scheme use ACI’s solutions, and it has recently begun offering U.K. aggregator services out of its Limerick data centre.

ACI Worldwide also has customers using UP’s instant payments to access Singapore FAST and Australian NPP (New Payments Platform), as well as customers preparing for the introduction of The Clearing House and Zelle U.S. schemes.

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