25 April 2017
Find out more

ACI Interchange adds UnionPay support

20 February 2014  |  1495 views  |  0 Source: ACI Worldwide

ACI Worldwide (NASDAQ: ACIW), a leading international provider of electronic payment and banking systems, today announced strengthened support for UnionPay, the largest card network in the world.

ACI's clearing solution, ACI Interchange, opens up new markets for financial institutions and processors by enabling support for UnionPay transactions while extending infrastructure options to include IBM System p™ AIX.

UnionPay has issued more than 3.5 billion cards worldwide (Nilson Report) and it is projected to continue its significant growth. UnionPay cards are accepted in more than 140 countries and its rapid growth presents a significant opportunity for financial institutions and processors facing revenue pressures or wanting to extend their commercial offerings with a growing brand. ACI Interchange already supports incoming and outgoing clearing and settlement processes for transactions underpinned by EMV and magnetic stripe payment cards for the major international schemes; this has now been extended to include UnionPay.

In addition to adding UnionPay support, ACI Interchange now also offers support for IBM System p™ AIX, which is in line with ACI's end-to-end consumer payments solution. This enables lowering of IT costs through platform consolidation, while providing customers with more platform choice. Consolidated platform choice directly addresses reducing costs and simplifying infrastructure requirements, thus alleviating maintenance burdens and improving margins.

With ACI Interchange, financial institutions and processors worldwide are able to:
• Eliminate multiple systems with one solution that offers native support for all international payment networks
• Remove the burden of maintaining multiple scheme formats, regular scheme mandates and differences between scheme processing requirements
• Save substantial scheme fees and be proactively compliant with complex interchange requirements

"In collaboration with our customers, we have strengthened our clearing solution to open up new markets and lower costs," said Jeff Hale, Senior Vice President, Retail Payments, A Payments, ACI Worldwide. "CustomCustomers have previously benefited from using ACI Interchange to save on maintenance costs and reduce scheme fees, and now that we offer UnionPay, they can access this important and fast-growing network." 

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related company information

ACI Worldwide

Related blogs

Create a blog about this story (membership required)
Visit capgemini.comFind out morevisit dh.com

Top topics

Most viewed Most shared
hands typing furiouslyDoes the Buck Stop with GameStop?
14443 views 0 | 3 tweets | 14 linkedin
BBVA runs live funds transfers over RippleBBVA runs live funds transfers over Ripple
11468 views comments | 31 tweets | 20 linkedin
Alipay and WeChat near $3 trillion payments milestoneAlipay and WeChat near $3 trillion payment...
9638 views comments | 35 tweets | 38 linkedin
hands typing furiouslyBitcoin ETF Bites the Dust, Needs More Sec...
9003 views 0 | 7 tweets | 7 linkedin
Western Union and MoneyGram unveil Facebook Messenger bots; Mastercard and Amex pile inWestern Union and MoneyGram unveil Faceboo...
8973 views comments | 17 tweets | 17 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job