ACI Worldwide launches ACI Instant Pay in Europe and the UK

ACI Worldwide has launched a real-time payment solution - ACI Instant Pay meant for merchants within the UK and Europe. With the new offering, businesses within the aforementioned regions can accept online, in-store, and mobile payments instantly.

ACI Instant Pay

ACI Worldwide is a payment systems company that provides real-time payment solutions to corporations. This allows businesses to process and manage digital payments.

The global head of ACI’s merchant business, Basant Singh stated, “In our expanding ‘always on’ transactional world, giving and receiving money electronically should be as instantaneous as handing over cash. As a long-term champion of instant payments, ACI is ready to help European merchants and their customers take advantage of the instant payment opportunity in the UK and Europe”.

As part of the numbers behind the launch of ACI Instant Pay, the firm has realized 90% of individuals between the ages of 16 and 74 in Europe use the Internet. At the same time, 74% of this populace purchase goods online. These figures justify the need for a fast and reliable payment solution for businesses in the region.

The ACI offering in question comes amid the proposed European Commission (EC) law mandating all financial institutions within the Single Euro Payments Area (SEPA) nations to facilitate instant payments. When enacted, the law will have the offer this provision at the same cost or lower-than-standard credit transfers.

At the same time, the UK is set to start its own journey towards payments modernization under the New Payments Architecture Program. These moves are meant to benefit businesses as well as their customers.

According to ACI Worldwide, real-time payment solutions allow merchants to have better control over their cash flow. At the same time, customers living paycheck to paycheck know the amount of funds they are working with at a specific period.