ACI
Worldwide (NASDAQ: ACIW), a leading global provider of bank
real-time electronic
payment solutions, today announced that it is aiding fast bank
adoption of real-time payments in Saudi Arabia with its UP
Real-Time Payments solution.
ACI’s solution offers participating Saudi banks faster and lower-risk
onboarding to the new real-time services through its global
partnership with Vocalink, a Mastercard company and a leading
technology provider, which announced last week that it has partnered
with the Saudi Arabian Monetary Authority (SAMA) to launch real-time
payments in the Kingdom.
The partnership between ACI Worldwide and Vocalink combines Vocalink’s
IPS solution for central payment infrastructures and ACI’s UP Real-Time
Payments solution for financial institutions. Leveraging success from
the US market, the combined offering will accelerate the availability of
real-time payments in Saudi Arabia by re-using existing, proven product
level integration, thus helping banks to quickly join the SAMA scheme
using ACI’s solution.
“ACI’s Real-Time Payments will provide Saudi Arabia’s financial services
sector with the industry’s most complete platform to launch innovative
new services based around real-time payments, while minimizing delivery
risk,” said Craig Saks, Chief Operating Officer, ACI Worldwide. “ACI
already powers real-time payments in the US, across Europe, Asia and
Australia – a reflection of the growing ubiquity of real-time payments
globally. Our partnership with Vocalink is part of what ACI already
does, and the extension of our partnership to Saudi Arabia further
solidifies ACI’s ability to help banks leverage speed-to-market for
access to real-time payments.”
“As the Kingdom of Saudi Arabia pushes forward with the modernization of
its financial services sector, it joins a growing list of countries that
are making real-time payments a cornerstone of their digital payments
transformation efforts,” said Paul Stoddart, President, New Payment
Platforms, Mastercard. “Our offering is a powerful proposition to Saudi
Arabia’s financial services sector to activate a real-time processing
environment in an expedited manner, improve efficiency in payments
systems and ready the Kingdom for a digital payments future.”
ACI Worldwide currently supports real-time payments around the world,
including live customers in Australia, Singapore, Thailand, Malaysia,
Europe and throughout North America. ACI has a long history working with
financial institutions in Saudi Arabia and won the award for ‘Best
Use of Emerging or Innovative Technology’ at the 2019 MEFTECH
Innovation awards. Click
here to visit our Saudi landing page.
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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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
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and enhancements are at the sole discretion of ACI and may be modified
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decision.
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