ACI and Mastercard will begin their collaboration by working together to offer industry-leading technology and expertise to central banks, scheme operators and market participants to fast-track the migration and modernization of real-time payment solutions around the world
ACI
Worldwide (NASDAQ:
ACIW), a leading global provider of real-time digital payment software and solutions, and Mastercard, the global multi-rail payments technology
company, today announced that they will partner to provide a wide range of real-time payment solutions
globally. They will initially collaborate to offer best-in-class central
infrastructure, payments localization and access solutions to central banks,
scheme operators, financial institutions, payment service providers, and other
organizations launching real-time payments initiatives.
The
real-time account-to-account payments market continues to quickly expand. Prime Time for Real-Time — a recent study analysing
global real-time, account-to-account payment volumes and forecasts across 30
global markets — projects a Compound Annual Growth Rate (CAGR) of 23.4 percent
from 2019 to 2024. While existing schemes around the world are
adding new participants and value-added services, additional country and
regional schemes are launching each year, including more than 20 schemes in
varying planning stages.
With
a complementary real-time payments vision, the combination of Mastercard’s
central infrastructure and ACI’s payments access and real-time message
transformation technology delivers an unmatched end-to-end offering. The new
joint solution delivers key benefits including:
Flexible deployment options —
Mastercard and ACI collaboration provides deployment options that range from
a fully managed service in
the cloud, to supporting on-premise software for government, central bank and
system operator-owned platforms
Ability to support existing local market
requirements — the joint solution reduces the amount of
time to onboard participants and provides flexibility to accelerate real-time
adoption
ISO20022-first approach —
joint real-time capabilities support organizations today and tomorrow, and
provide translation to and from existing standards
Digital services — further capabilities to
support new digital services such as request to pay, proxy services and biller
services
Global proposition, local expertise —Mastercard
and ACI collaboration brings together global reach, international experience
and the local market knowledge
“With more countries and regions
embarking on the modernisation of their payments systems to capitalise on real-time
technologies and customer demand, the market opportunity is significant,”
said Paul Stoddart, President of
New Payment Platforms, Mastercard. “Working together with ACI, we will explore a wide range
of opportunities to accelerate the development and usage of real-time and
multi-channel payment platforms, driving choice and innovation to market
participants and end customers.”
“Mastercard and ACI share an extensive
and complementary track record of real-time payments success — driving
global central infrastructure
clearing and settlement schemes, and this partnership creates the most robust
and complete set of real-time capabilities in the market today,” said Craig
Saks, Chief Strategy and Transformation Officer, ACI Worldwide. “Our companies are the leaders in
real-time payments and aligning on an end-to-end solution will provide great
benefit not only to banks and central infrastructures, but to merchants,
billers, fintechs and intermediaries — and their customers — as
well.”
Mastercard
is a leading provider of account-to-account and card payments technology
globally, with markets including the