It is the first global strategic partnership of its kind and will offer participants a pre-integrated
solution, enabling quicker onboarding to the payments scheme and broader reach to more scheme participants in a fast and efficient manner.
As part of the partnership agreement, VocaLink will provide its Immediate Payments System solution and connectivity software to clearing houses and central banks globally; ACI will deliver its UP Immediate Payments solution, with VocaLink’s Immediate Payments Gateway pre-integrated, to enable individual organizations such as financial institutions and other payment providers to access the scheme and process transactions.
“At a time when numerous regions and countries look to launch their own faster payments scheme, the combined offering is a powerful proposition to activate an immediate payments processing environment in an expedited manner,” explains Paul Stoddart, Managing Director, Strategy, Products, Marketing and Business Development, VocaLink.
“We’re looking forward to working with ACI, to leverage its world-class solution to payment service providers looking to access real-time payment schemes powered by VocaLink. Together, we will be able to offer the market-leading, real-time payments system to a far greater number of banking customers, and allow millions of people use of the most efficient payments system.”
“We have enjoyed a long relationship with VocaLink—collaborating on faster payments initiatives dating back to the first launch of Faster Payments in the UK. This new joint effort allows organizations to leverage the benefits of real-time payments with certainty, and also minimizes delivery risk,” continues Craig Saks, Group President, Strategic Products, ACI Worldwide.
“By providing our customers with a pre-certified solution that is already tightly integrated with the VocaLink IPS real-time payment system, we can simplify the challenge of real-time enablement that customers face, and significantly reduce the integration required; this ensures that they are able to offer real-time payments to their customers as quickly as possible.”
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