ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time digital payment software and solutions, today announced a collaboration with PayPal to bring digital wallet payment options to ACI’s biller clients like Monroe County Water Authority (MCWA).
PayPal and Venmo will be integrated with ACI Speedpay, giving consumers more options to make bill payments conveniently and securely using the digital methods that suit them best.
Monroe County Water Authority, a not-for-profit public benefit corporation that provides water to hundreds of thousands of customers over parts of six counties in the Rochester, NY area, implemented PayPal for its customers, with plans to add Venmo as well, due to high demand for these checkout options. A recent ACI Speedpay Pulse study showed that more than half (56%) of Gen Z and millennial consumers surveyed would consider paying a bill with a digital payment method like Venmo or PayPal if given the option. With this combination, Monroe County Water Authority can now better cater to customers’ growing digital wallet payment preferences.
“We are delighted to offer PayPal and Venmo as payment options for our customers through PayPal’s integration with ACI Speedpay,” said Felicia Romagnolo, manager of Customer Services, Monroe County Water Authority. “As consumer demand for more digital payment options, including digital wallet payment methods and the ability to pay in increments or at a later date, has increased in the bill payments sector, we can conveniently meet our customers’ evolving needs.”
“For too long, paying bills has been a cash or check process that is inherently inefficient and costly to both consumers and billers. The past year and the increased digitization of commerce has shown the value digital wallets can provide not just to retailers, but also to billers and other service providers,” said Dan Leberman, senior vice president of partnerships, PayPal. “Our work with ACI - and utilizing its extensive industry knowledge - is an important step for us to not just digitize the bill pay industry, but provide a trusted digital wallet for its customers and ultimately, the billers’ consumers.”
“Digital payment methods continue to increase as consumers look for more ways to make payments conveniently and securely, and we expect this trend to continue,” said Sanjay Gupta, executive vice president, ACI Worldwide. “Forward-thinking organizations like Monroe County Water Authority recognize these changing customer preferences, providing more options to pay in ways that best suit them. This work with PayPal gives consumers the digital bill payment options they prefer.”
ACI Speedpay is an integrated suite of bill presentment and payment services that empowers the success of thousands of customers across multiple verticals, including Consumer Finance, Government, Education, Healthcare, Insurance, Telco and Cable, Subscriptions, and Utilities. The solution’s mobile wallet billing, payment and notification capabilities improve consumer experience while reducing costs.