ACI’s UP Real-Time Payments solution serves as foundation for
Malaysia’s new DuitNow service and further e-Payments innovation across
the region
NAPLES, Fla.--(BUSINESS WIRE)--Jan. 14, 2019--
ACI
Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic
payment and banking solutions, today announced that Payments Network
Malaysia Sdn Bhd (PayNet), the national payments network and central
infrastructure provider, has implemented Malaysia’s Real-Time Retail
Payments Platform (RPP) using ACI’s UP Real-Time
Payments solution. The first service offered to the public under the
platform is DuitNow, an instant credit transfer with a national
addressing database that links mobile numbers and national ID numbers to
account numbers.
DuitNow allows bank customers to send money instantly and securely to
accounts that are addressed by easily known identifiers, such as mobile
phone numbers, identity card or passport numbers, and business
registration numbers. The service aims to displace cash with simple and
convenient internet and mobile payments, and has the potential to
transform Malaysia’s payments ecosystem with immediate 24x7 funds
availability.
Following the launch of DuitNow, PayNet and ACI are now focused on the
progressive introduction of new payments services, including QR Payments
as well as Request-to-Pay, e-Mandates and Real-Time Debit, which are
expected to transform how businesses collect payments in Malaysia.
Corporate customers will also benefit from DuitNow’s extended message
payload that allows DuitNow payment messages to carry information needed
to complete business transactions.
“RPP and DuitNow are the foundation for payments transformation in
Malaysia, which is aimed at modernizing the e-Payments ecosystem and
driving innovation for the country’s more than 31 million residents.
PayNet’s vision goes beyond just Malaysia – we aim to build links across
the ASEAN region to enable cross-border instant credits and P2P
payments, with an initial focus on our neighbouring countries,” said
Peter Schiesser, Group CEO, PayNet.
“ACI’s UP Real-Time Payments provides the flexibility and scalability
that PayNet needs to continue making material steps towards greater
ASEAN payments integration – streamlining both business and personal
financial flows across the region,” added Mr Schiesser.
“ACI is proud to partner with PayNet to address the changing needs of
the Malaysian payments ecosystem as it evolves and matures, positioning
the country as a regional and global payments leader as the trend from
cash-based transactions to cashless societies gathers pace,” said Leslie
Choo, Managing Director, Asia, ACI Worldwide. “The launch of DuitNow
marks a significant milestone in Malaysia’s real-time transformation –
one that has required close collaboration not only between ACI and
PayNet, but also with more than a dozen member banks that are bringing
these new services to the public.”
ACI has an unmatched global customer base of financial institutions and
payment service providers using its UP Immediate
Payments solution. In the UK, the solution has been used by
financial institutions to access the UK Faster Payments scheme since its
launch in 2008. Currently more than 50 percent of the scheme’s payments
are being processed by ACI solutions. Additionally, ACI has customers
using UP Immediate Payments to access Singapore FAST and the Australian
NPP (New Payments Platform). ACI is implementing The Clearing House RTP
system and Zelle for customers in the US, and serves on the ISO 20022
Real-Time Payments Group and the EPC Instant Payments Technology Group.
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 thousands of global merchants, rely on ACI to execute $14
trillion each day in payments and securities. In addition, myriad
organizations utilize our electronic
bill presentment and payment services. Through our comprehensive
suite of software solutions delivered on customers’ premises or through
ACI’s private
cloud, we provide real-time, immediate
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 PayNet
Payments Network Malaysia Sdn Bhd (PayNet) is
Malaysia's premier payments network and central infrastructure for
financial markets. We innovate, build and operate world-class payment
systems and financial market infrastructures that safely, reliably and
efficiently enable the functioning and development of Malaysia's
financial system as well as the economy as a whole. With Bank Negara
Malaysia as PayNet's single largest shareholder and eleven major
financial institutions as joint shareholders, PayNet also serves as a
platform to harness the collaborative efforts of the Malaysian banking
system to accelerate the adoption of electronic payments. For more
information, please visit www.paynet.my
© Copyright ACI Worldwide, Inc. 2019.
ACI, ACI Worldwide, ACI
Payment Systems, the ACI logo, ACI Universal Payments, UP, the UP logo,
ReD, PAY.ON and all ACI product names are trademarks or registered
trademarks of ACI Worldwide, Inc., or one of its subsidiaries, in the
United States, other countries or both. Other parties’ trademarks
referenced are the property of their respective owners.
Product roadmaps are for informational purposes only and may not be
incorporated into a contract or agreement. The development release and
timing of future product releases remains at ACI’s sole discretion. ACI
is providing the following information in accordance with ACI's standard
product communication policies. Any resulting features, functionality,
and enhancements or timing of release of such features, functionality,
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
decision.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190113005020/en/
Source: ACI Worldwide
ACI Worldwide
Dan Ring
E-mail: dan.ring@aciworldwide.com
Phone:
+1 (781) 370-3600
Christopher Taine (APAC)
E-mail: christopher.taine@aciworldwide.com
Phone:
+49 (0) 16243 17273
PayNet
Ms Amy Pang
E-mail: amy@paynet.my
Phone:
+603 2264 8689
