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ACI Worldwide to hook up to The Clearing House's real-time payment system

16 February 2016  |  2860 views  |  0 Source: ACI Worldwide

ACI Worldwide (ACIW), a leading global provider of electronic payment and banking solutions, announced today it is working closely with The Clearing House (TCH) in support of its initiative to implement a real-time payment system in the U.S.

The initiative will enable financial institutions (FIs) to send and receive money instantaneously, revolutionizing payments and financial services, among other industries in the U.S. and around the globe.

Leveraging its experience deploying similar payments capabilities in key markets, including the U.K., Singapore and Australia, ACI recognized that a primary success factor is an ease of access that drives ubiquity and fast on-boarding. ACI is working with TCH to design and build an access capability that can be managed directly by participants or alternatively utilized through a fully managed cloud-based service, providing a range of functionality from basic connectivity to stand-in processing, risk management and fraud prevention. The objective is to provide the right level of capability, from the simplest to the most complex, required to allow all FIs to offer immediate payments-based products to their customers.

"As an existing provider of payments systems to thousands of FIs in the U.S. and a global leader in real-time capabilities, ACI is committed to further developing the payments ecosystem," said Craig Saks, group president, Strategic Products, ACI Worldwide. "We are delighted to extend ACI's commitment to real-time payments in support of The Clearing House initiative. This significant step will enable customers, both established and new players to the financial industry, to effectively leverage the global move to real-time payments."

"We are excited to have ACI join those supporting our real-time payment initiative,” said Steve Ledford, senior vice president, Products and Strategy, TCH. "Many of our members and customers rely on ACI solutions and the addition of a real-time payments access capability will assist in ensuring accessibility, convenience and ubiquity to develop innovative new business models through real-time payments."

The Universal Payments portfolio of solutions from ACI Worldwide orchestrates all aspects of payments processing for any payment type, any channel, any currency and any network.

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