Transbank upgrades debit and credit card processing system to
maintain competitive edge and comply with new government regulations
NAPLES, Fla. & SANTIAGO, Chile--(BUSINESS WIRE)--May 20, 2019--
ACI
Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic
payment and banking solutions, today announced that
Transbank, the largest acquirer in Chile and an existing ACI customer,
is now taking advantage of ACI’s UP Retail
Payments solution to offer differentiated services to businesses,
maintain a competitive edge in the market and better comply with local
card scheme mandates.
Founded as a credit card processing intermediary in Chile, Transbank has
led the development of digital payments for almost 30 years. It plays a
critical role in the Chilean economy, responsible for a significant part
of the payments flow nationally and the exchange of payments abroad. The
company’s backend processing system was due for an upgrade, and at the
same time, the Chilean government regulations pushed to open the
country’s acquiring business, allowing new players to enter the market.
To maintain its competitive edge and comply with local card scheme
mandates, Transbank chose to update its system with ACI’s UP Retail
Payments solution.
“In the payments industry, change is the only constant, and to stay
relevant, we need to continue to transform our business,” said Vicente
Tredinick, Chief Information and Operations Officer, Transbank. “Our
goal is to continue innovating the Chilean economy toward even broader
global integration. ACI’s UP Retail Payments solution provides us with
the ability to bridge the features and functionalities of our existing
system with next-generation technologies, so that we can continue
business-as-usual while adding new services - to boost revenue growth -
and innovating in a protected environment.”
Transbank now has the flexibility to capitalize on market opportunities
by offering differentiated services to businesses, and comply with the
new government regulations. In addition, the organization is better able
to support the more than 300,000 businesses that are configured into its
system, processing volumes of five million transactions per day.
In the future, Transbank will also benefit from ACI’s UP Payments Risk
Management solution, which will help bolster security through a
combination of machine
learning, advanced analytics and fraud and payments data.
“Real-time payments is already a reality in Chile, and moving to an open
digital banking environment is necessary to compete today,” said Marco
Bravo, vice president, Latin America, ACI Worldwide. “As a leader in the
market, Transbank is future-proofing its business with flexible
capabilities that drive speed-to-market and allow the company to compete
successfully, while increasing customer retention and delivering even
higher shareholder value.”
ACI’s UP Retail
Payments solution combines the features and functionalities of
current systems and next-generation technologies in a coexistence
environment to deliver a digital payments experience. The power of ACI’s
UP Retail Payments lies within the UP Framework, which is built on an
open service-oriented architecture, delivering robust orchestration that
enables easy integration with multiple systems as well as support for
card, non-card and alternative payments, among other benefits.
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.
© Copyright ACI Worldwide, Inc. 2019
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logo, ACI Universal Payments, UP, the UP logo and all ACI
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Product roadmaps are for informational purposes only and may not be
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View source version on businesswire.com: https://www.businesswire.com/news/home/20190520005116/en/
Source: ACI Worldwide
Dan Ring
E-mail: dan.ring@aciworldwide.com
Phone:
781-370-3600
Nidhi Alberti
E-mail: nidhi.alberti@aciworldwide.com
Phone:
781-370-3600
