ACI Worldwide has unveiled the next generation of its consumer payments solution, enabling real-time, any-to-any payments. The international electronic payments provider is empowering financial institutions, retailers and billers to reduce payment processing costs, increase customer loyalty and drive new revenues by giving consumers more control over their money and the payment services they value.
The company made the announcement at its Disruption in Payments events in New York and London yesterday, featuring speakers including Phil Heasley, president & CEO, ACI Worldwide and Steve Forbes, editor-in-chief, Forbes Magazine and chairman, Forbes Media.
The solution dubbed UP BASE24-eps uses technology to enable, real-time payments facilitate quick, secure, cost-effective and regulated transactions between consumers and retailers, financial institutions and billers. Industry experts believe that real-time payments will accelerate the global economy by eliminating billions of dollars in costs and generating billions of dollars in new revenues each year.
UP BASE24-eps supports the acquiring, authorizing, routing and switching of consumer transactions, including card and burgeoning non-card payment types such as mobile and email addresses. The platform empowers payment providers to offer their customers the products and services they want, all while significantly reducing IT costs and facilitating new revenue-generation programs by:
- offering new consumer experiences such as mobile payments and person-to-person (P2P) payments
- strengthening the ability to enter new markets by offering both card and cardless payments with the same payments infrastructure
- lowering application development costs by up to 74 percent and improving time to market through new SOA-based business services
- expediting time to market by up to 50 percent with new development toolkits, enabling configuration rather than coding
- decreasing operating costs by consolidating legacy systems and integrating into other systems via business services
- supporting numerous new advanced features, some of which help reduce risk and manage compliance
“The real-time and any-to-any capabilities in our consumer payments platform are industry game-changers and the result of close collaboration with our customers—many of the world’s leading financial institutions, retailers and billers,” said Jeffrey S. Hale, senior vice president, retail payments, ACI Worldwide. “The combination of heightened regulation, antiquated systems and new market disruptors is putting increased pressure on the margins in the payment system. We are providing the industry with revenue-generation capabilities and the ability to offer new payment services, such as mobile and P2P payments.”
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