8 out of the 12 direct participants of the UK's Faster Payments
Scheme utilize ACI's UP Immediate Payments
Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic
payment and banking solutions, today announced that it has
been awarded the new certificate of technical accreditation ‘trust
mark,' after passing the technical tests required by Faster Payments
Scheme Ltd (FPSL), the System Operator behind Faster Payments.
With the ‘trust mark' accreditation, ACI has been officially recognized
by FPSL as one of the ‘technical aggregators' that helps payment and
financial institutions gain access to real-time Faster Payments in a
single or multi-tenant environment through FPSL's New Access Model.
"ACI's UP Immediate Payments solution for Faster Payments in the UK
offers a real alternative for payment service providers, fintechs,
financial institutions and new entrants wanting to participate in the
UK's Faster Payments Scheme at a scale appropriate to their needs," said
William Proctor, vice president, product line manager, UP Immediate
Payments, ACI Worldwide. "We not only provide our customers with a
technical gateway, but also payment processing functionality, guidance
on compliance, fraud, scheme rules, testing and certification, as well
as support throughout the complex on-boarding process. FPSL's New Access
Model provides customers faster payments 24/7. Moreover, opening up the
scheme will increase competition and give new participants the
opportunity to better compete with the traditional UK high street banks,
resulting in more choice for consumers."
Available via a SaaS delivery model or on-premise, ACI's UP Immediate
Payments solution is highly flexible and adaptable, providing access
to all IP schemes globally. It has been used by existing scheme members
to access faster payments since launching in 2008.
In recent years, demand for ACI's SaaS-based payment solutions has grown
considerably, and in response, ACI will open a new data centre in
Limerick, Ireland later this year—serving its growing European customer
base. Customers using the SaaS-based UP Immediate Payments solution will
have the advantage of a dedicated service, which has the scalability and
flexibility to meet individual requirements as they change over time.
"The Faster Payments access programme is creating an entirely new way to
access the scheme, which will extend the reach of true real-time
payments to millions more consumers and businesses," said Craig
Tillotson, chief executive, Faster Payments. "ACI Worldwide's new
offering is the latest demonstration of the traction being achieved and
another important step in the creation of a competitive market for
technical aggregation services."
Currently 8 out of the 12 direct participants of the UK's Faster
Payments Scheme use ACI's solutions. The central infrastructure of FPSL,
widely considered a global model for the industry, also relies on ACI's
Note to editors:
*The New Access
Model, first published by the Faster Payments Scheme in December 2014,
sets out proposals to enable technology vendors to offer technical
access to Payment Service Providers (PSPs) by adding to their existing
accounting platform technology, or providing a managed solution to
either a single or multiple PSPs.
The Technical Accreditation process is designed to help PSPs make an
informed choice of which technical vendor to select to obtain access to
Faster Payments, as any accredited vendor has been able to demonstrate
their technical capability.
A more detailed description of the New Access Model is available in the Faster
Payments: A Vision for a New Access Model, whitepaper: http://www.fasterpayments.org.uk/sites/default/files/FPS_Payment%20Access%20Whitepaper.pdf.
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 300 of the leading global
retailers rely on ACI to execute $14 trillion each day in payments.
In addition, thousands of organizations utilize our electronic bill
presentment and payment services. Through our comprehensive suite of
software and SaaS-based solutions, we deliver real-time, any-to-any
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.
About Faster Payments
Faster Payments is the only UK
interbank payment system available day and night, 365 days per year,
supporting the demands of personal and business customers to make
payments from mobile, internet and telephone banking channels. In the
last 12 months (covering 1 April 2015 - 31 March 2016), Faster Payments
processed 1.29 billion payment transactions with a value of £1,079
© Copyright ACI Worldwide, Inc. 2016.
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Product roadmaps are for informational purposes only and may not be
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is providing the following information in accordance with ACI's standard
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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
View source version on businesswire.com: http://www.businesswire.com/news/home/20160524005046/en/
Katrin Boettger, 07776-147-910
Source: ACI Worldwide
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