Payments technology firm ACI Worldwide has enhanced its UP Immediate Payments solution with new features in response to the increased demand for real-time and digital payments amid the Covid-19 crisis.
The solution now provides extended API capabilities to support integration into various digital channels.
These channels are internet banking, mobile banking, mobile wallets, e-commerce portals, bill pay apps as well as social media payments.
Using recent product investments to support India’s Unified Payments Interface (UPI), the capabilities are now available globally.
Commenting on the development, ACI general manager and head of real-time payments Craig Ramsey said: “Real-time payments are set to experience explosive growth worldwide, with the global pandemic highlighting the need for new and innovative digital payment options more than ever before.
“The new capabilities within our UP Immediate Payments solution will enable financial institutions to be real-time ready, while at the same time create new value-added services for consumers and financial institutions.
UP Immediate Payments delivers capabilities for real-time payment processing on one platform, including origination, processing, orchestration, clearing and settlement, fraud detection and connectivity.
The vendor said that the solution reduces costs and maximises investment value.
The solution is available on premise, in the public cloud and also in a managed platform environment.