ACI now powers 25 domestic and pan-regional real-time schemes across six continents – including nine central infrastructures – providing solutions to central banks, participant banks, fintechs, and other payment service providers.
Europe, the Middle East, and the UK are ACI’s regional markets, with 12 countries having integrated real-time payment software capabilities, followed by nine countries in the Asia-Pacific and four in the Americas region. The latest additions to ACI’s growing client roster are the central banks of three nations in the Middle East.
Globally, ACI covers approximately one-third of the countries that offer real-time payments services, reaching about 1.8 billion people served by various organisations, including central governments, payment networks, banks, financial institutions, and fintech companies.
ACI Worldwide’s platform expansion responds to rapidly increasing real-time payment adoption rates worldwide. According to intelligence by GlobalData, real-time payments will account for nearly a quarter of global electronic payments by 2026.
Government and central intervention in national payment schemes is the primary driver of real-time adoption, with many nations mandating compliance or taking a consensus-driven and collaborative approach. The European Commission unveiled draft law recently that would require banks to offer instant payments in EUR at no extra cost, and immediate payments in the US is expected to see a strong uptick with the launch of FedNow in 2023.
ACI Worldwide itself has launched an instant payments solution to enable US-based merchants to accept online, mobile, and in-store payments instantly. ACI Instant Pay, offers access to lower-cost payments, instant liquidity, reduced risk of fraud, and improved shopper experience.
From Latin America to Asia, to Africa, to Europe, governments taking the lead have also improved economic prosperity and promoted financial inclusion, with tangible success in strengthening GDP. By 2026, real-time payments are expected to facilitate an additional USD 131 billion in GDP in the world’s top five global real-time markets (India, China, Thailand, Brazil, and South Korea).
In March 2022, ACI Worldwide has announced the launch of Fraud Scoring Services – a fraud scoring platform. The solution intends to deliver next-generation machine learning capabilities for financial institutions of all sizes to deliver real-time fraud detection and prevention.
ACI Fraud Scoring Services can help banks to reduce fraud losses by up to 75%. The service is being rolled out in North America and Europe first, with plans to expand globally in the coming months.
In June 2022, ACI Worldwide was announcing ACI Smart Engage, a mobile engagement platform. ACI Smart Engage enables merchants worldwide to serve up their inventory of goods and services directly to consumers’ smartphones using location, voice, and image recognition technology.
ACI Smart Engage is part of ACI Omni-Commerce, a secure omnichannel payment processing platform with flexibility to support merchants’ in-store, online, and mobile needs, and the scalability to power the purchasing experiences that consumers are looking for now and in the future, the official press release concludes.
For more information about ACI Worldwide, please check out their detailed profile in our dedicated, industry-specific Company Database.
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