ACI Worldwide Launches ACI Instant Pay for Merchants - In-Store, Online, and Mobile Real-Time Payments
18 January 2023 - 12:00AM
Business Wire
ACI Instant Pay provides access to lower-cost
payments, instant liquidity, reduced risk of fraud and enhanced
shopper experience
ACI Worldwide (NASDAQ: ACIW), a global leader in
mission-critical, real-time payments software, today announced the
launch of ACI Instant Pay, a new real-time payments solution that
enables merchants in the U.S. to accept online, mobile and in-store
payments instantly. The expansion of ACI's real-time payments
software solutions to merchants reinforces ACI’s global leadership
in powering domestic and pan-regional real-time schemes reaching
billions worldwide.
Merchants can enable ACI Instant Pay via simple API integration
with ACI's payments orchestration platform. Once integrated, ACI
Instant Pay appears to merchants as an alternative payment method
through all major channels: online, in-store and mobile app. For
in-store payments, a QR code displayed on a consumer-accessible
screen enables customers to initiate and complete payments via
their mobile device, enabling a smooth, secure and one-click
checkout experience.
With the expected launch of the U.S. domestic real-time payments
scheme FedNow in 2023, ACI Instant Pay will allow U.S.-based
merchants to boost their businesses by accepting and processing
real-time payments, which are expected to grow in popularity over
the next few years. ACI’s 2022 Prime Time for Real-Time report
forecasts the annual volume of real-time transactions in the U.S.
to reach 8.9 billion by 2026, up from 1.8 billion in 2021,
representing a compound annual growth rate of 37%.
ACI Instant Pay Benefits at a
Glance:
- Freedom from interchange fee burden: providing welcome relief
from the rising costs of processing payments by card, which now
average 2-4% of each transaction.
- Instant settlement equals instant liquidity for merchants.
- Chargebacks are eliminated: with account validation carried out
pre-payment, only insufficient funds can result in declined
transactions. That means no more chargebacks, while fraud exposure
also shifts to the banks.
- Integration simplicity
- Single, simple API integration for secure eCommerce
- QR code integration in-store
“At ACI, we are pleased to expand our global leadership of
driving real-time payments for central governments, payment
networks, banks, financial institutions and fintech companies to
include Merchants now. Merchants can now reap the dual benefits of
instant payments for an enhanced shopper experience and improved
bottom line. Many shoppers are frustrated by traditional payment
options. They want more choice, greater transparency and better
control, online and in-store,” said Debbie Guerra, chief product
officer, ACI Worldwide. “ACI Instant Pay helps merchants capture
and engage new customers while driving growth and lowering
costs.”
“With ACI Instant Pay, value flows directly from customer to
merchant with no card fees, no user friction, no delays and no risk
of card fraud,” added Basant Singh, global head of ACI's merchant
segment. “It also allows merchants to reduce their costs and pass
savings on to their customers as an incentive in the form of
cashback, loyalty points or discounts.”
About ACI Worldwide
ACI Worldwide is a global leader in mission-critical, real-time
payments software. Our proven, secure and scalable software
solutions enable leading corporations, fintechs and financial
disruptors to process and manage digital payments, power
omni-commerce payments, present and process bill payments, and
manage fraud and risk. We combine our global footprint with a local
presence to drive the real-time digital transformation of payments
and commerce.
© Copyright ACI Worldwide, Inc. 2023 ACI, ACI Worldwide, ACI
Payments, Inc., ACI Pay, Speedpay and all ACI product/solution
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.
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Nick Karoglou nick.karoglou@aciworldwide.com Katrin Boettger
katrin.boettger@aciworldwide.com
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