Partnership will combine VocaLink’s market-leading IPS solution for
central payment infrastructures and ACI’s UP Immediate Payments solution
for financial institutions
Combined offering will accelerate the availability of real-time
payments globally and speed up the adoption in new markets
LONDON -- (Business Wire)
ACI
Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic
payment and banking solutions, and VocaLink, a global
payments systems company, today announced a partnership to offer a
complete end-to-end immediate
payments solution to launch a domestic or regional immediate
payments network.
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It is the first global strategic partnership of its kind and will offer
participants a pre-integrated solution, enabling quicker onboarding to
the payments scheme and broader reach to more scheme participants in a
fast and efficient manner. As part of the partnership agreement,
VocaLink will provide its Immediate Payments System solution and
connectivity software to clearing houses and central banks globally; ACI
will deliver its UP Immediate
Payments solution, with VocaLink’s Immediate Payments Gateway
pre-integrated, to enable individual organizations such as financial
institutions and other payment providers to access the scheme and
process transactions.
VocaLink offers a global, market-leading solution for central
infrastructures to manage the clearing of real-time payments according
to the rules decided by a particular country or region. The solution
supports the central infrastructures of the UK Faster Payments and the
Singapore FAST schemes, and is also being implemented in the U.S. at The
Clearing House.
ACI’s UP Immediate
Payments solution addresses the end-to-end requirements of financial
institutions and payment service providers, enabling them to integrate
and manage their entire payments ecosystem simply through solution
configuration. ACI has an unmatched global customer base of financial
institutions, payment service providers, fintechs and schemes using its
UP Immediate Payments solution.
Craig Saks, Group President, Strategic Products, ACI Worldwide
comments:
“We have enjoyed a long relationship with
VocaLink—collaborating on faster payments initiatives dating back to the
first launch of Faster Payments in the UK. This new joint effort allows
organizations to leverage the benefits of real-time payments with
certainty, and also minimizes delivery risk.
“By providing our
customers with a pre-certified solution that is already tightly
integrated with the VocaLink IPS real-time payment system, we can
simplify the challenge of real-time enablement that customers face, and
significantly reduce the integration required; this ensures that they
are able to offer real-time payments to their customers as quickly as
possible.”
Paul Stoddart, Managing Director, Strategy, Products, Marketing and
Business Development, VocaLink comments:
“At a time when
numerous regions and countries look to launch their own faster payments
scheme, the combined offering is a powerful proposition to activate an
immediate payments processing environment in an expedited manner.
“We’re
looking forward to working with ACI, to leverage its world-class
solution to payment service providers looking to access real-time
payment schemes powered by VocaLink. Together, we will be able to offer
the market-leading, real-time payments system to a far greater number of
banking customers, and allow millions of people use of the most
efficient payments system.”
Steve Ledford, Senior Vice President, Product and Strategy at The
Clearing House adds:
“This (partnership) will further support
the ubiquity of real-time payments and accelerate adoption in the US.”
ACI currently supports over 60 percent of the direct participants in UK
Faster Payments; the company also processes for Singapore’s FAST system
and is deploying NPP in Australia. VocaLink operates the UK national
payments infrastructure, which processes 90 percent of UK salaries, more
than 70 percent of household bills and almost all state benefits. It
also implemented the FAST service in Singapore and processes the
majority of Sweden’s automated payments. VocaLink empowers businesses
and consumers to move money by sharing technology and payment industry
expertise.
About VocaLink
VocaLink is a global payments partner to
banks, corporates and governments. VocaLink designs, builds and operates
world-class platforms that make it easier for people to make payments
confidently and securely. In the UK, VocaLink processes over 90 percent
of salaries, more than 70 percent of household bills and almost all
state benefits. It implemented the FAST service in Singapore and
processes the majority of Sweden’s automated payments. VocaLink’s high
availability, resilient payment systems power the Faster Payments
Service on behalf of the Faster Payments Scheme, the Account Switching
platform, Bacs and the Direct Debit Scheme. VocaLink also connects the
world’s busiest network of over 70,000 ATMs through the LINK scheme.
Last year VocaLink processed over 11 billion transactions with a value
of £6 trillion - powering economies and empowering people. For payment
news and insight go to http://connect.vocalink.com/.
About ACI Worldwide
ACI Worldwide, the Universal
Payments (UP) company, powers electronic
payments for more than 5,100 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 and SaaS-based
solutions, we deliver 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. 2016.
ACI, ACI Payment Systems, the
ACI logo and all ACI product 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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160926005151/en/
Contacts:
ACI Worldwide
Katrin Boettger, +44 (0)7776 147 910
katrin.boettger@aciworldwide.com
or
Dan
Ring, 781-370-3600
dan.ring@aciworldwide.com
or
VocaLink
David
Daniel, +44 (0)78 6767 6078
david.daniel@vocalink.com
or
Ellie
Fixter, +44 (0)20 3818 4944
ellie.fixter@vocalink.com
Source: ACI Worldwide
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