News

ACI to support Europe's instant payment schemes

October 31, 2017

ACI Worldwide, a provider of real-time electronic payment and banking solutions, will support the European Payments Council SEPA Instant rulebook standard ISO 20022 within its Universal Payments solutions portfolio, including UP Immediate Payments and UP Real-Time Payments.

With this support, ACI enables payment service providers to connect to any domestic or pan-European EPC-based instant payments scheme, a press release said.

Financial institutions in Europe are currently preparing for the launch of several domestic and pan-European schemes, including the EBA RT1 pan-European SEPA SCT Inst scheme which is due to go live next month.

ACI Worldwide offers FIs and PSPs a multischeme solution based on a standard European SEPA Inst gateway that can be quickly modified to suit the requirements of any domestic or pan-European instant scheme.

"ACI's standard European SEPA Inst gateway offers the utmost flexibility for our customers as the implementation will not be dependent on the availability of an individual instant scheme," said Barry Kislingbury, ACI director of solution consulting for immediate payments. "Our approach offers payment service providers the opportunity to real time-enable their payments platform now — and to add connectivity to any instant scheme as they become available.

"We not only provide our customers with a technical solution, but also payment processing functionality, guidance on compliance, fraud, scheme rules, testing and certification, as well as support throughout the complex on-boarding process."