ACI Worldwide and VocaLink Join Forces to Speed up Adoption of Immediate Payments Around the World
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
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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
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.
"We have enjoyed a long relationship with VocaLink—collaborating on faster payments initiatives dating back to the first launch of Faster Payments in the
"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."
"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."
"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
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
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