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ACI Worldwide, a leading provider of real-time payments software, has introduced an all-encompassing digital central infrastructure solution tailored for central banks and financial institutions.
This newly launched digital central infrastructure represents a unified ISO 20022 native solution that merges digital overlay services with ACI Central Infrastructure, as detailed in a press release on Tuesday, September 12, 2023. The solution’s objective is to deliver a holistic payments ecosystem solution, fostering domestic and global interoperability while expediting time to market.
In 2022, global real-time payment volumes reached an all-time high, registering 195 billion transactions, signifying a year-over-year growth rate of 63.2%, according to the press release. Different nations are currently at varying stages of development in their real-time payments strategies, with some focused on expanding their domestic networks and others exploring opportunities in cross-border payments.
ACI Worldwide’s Chief Product Officer, Debbie Guerra, emphasized the company’s role in equipping central banks with a secure central payments infrastructure to accelerate the growth of real-time payments. Additionally, it enables banks and financial institutions to leverage this growth with integrated solutions featuring digital overlays.
The digital central infrastructure solution encompasses a comprehensive range of features and services that cater to the specific requirements of central banks and financial institutions. It integrates real-time central infrastructure with digital overlays, including Request to Pay, QR code payments, back-office management platforms, and AI-driven fraud detection technology.
Moreover, the digital central infrastructure offers value-added services such as merchant onboarding and management, dispute resolution, and the management of multiple aliases.
Craig Ramsey, Head of Real-Time Payments at ACI Worldwide, underlined that the integration of digital central infrastructure with ACI Enterprise Payments Platform presents a complete end-to-end solution. This solution aims to facilitate the swift adoption of real-time payments at the national level, fostering growth and digital enablement.
ACI Worldwide currently powers 25 domestic and pan-regional real-time schemes across six continents, including nine central infrastructures.
During a quarterly earnings call on August 3, ACI Worldwide’s President and CEO, Thomas Warsop, anticipated significant growth in instant payments usage in the United States. He projected a fourfold increase in real-time payments over the next four years, encompassing additional use cases like credit line access, request for pay, buy now, pay later, and more.
ACI Worldwide’s latest offering aligns with the evolving landscape of real-time payments, catering to the increasing demand for faster, more secure, and digitally integrated payment solutions.
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