Chile-based Transbank has selected ACI Worldwide’s UP Retail Payments solution to offer better digital payment services for businesses.
ACI Worldwide offers real-time electronic payment and banking solutions. The UP Retail Payments solution combines a variety of functionalities and technologies to enable digital payments.
The payment solution is backed by the UP Framework built on open service architecture. This is intended to allow easy integration with multiple systems.
UP Retail Payments also supports card, non-card and other alternative payments.
Transbank is engaged in digital payment services and is responsible for certain portion of the payments that flow nationally as well as the exchange of payments in international markets.
Transbank chief information and operations officer Vicente Tredinick said: “ACI’s UP Retail Payments solution provides us with the ability to bridge the features and functionalities of our existing system with next-generation technologies, so that we can continue business-as-usual while adding new services – to boost revenue growth – and innovating in a protected environment.”
ACI Worldwide’s solution is expected to enable Transbank to capitalise on market opportunities, while complying with new government regulations.
Moreover, the organisation will be able to support the more than 300,000 businesses configured into its system and process five million transactions daily.
Transbank also intends to leverage ACI’s UP Payments Risk Management solution to improve security with machine learning, advanced analytics and fraud and payments data.
ACI Worldwide vice-president for Latin America Marco Bravo said: “As a leader in the market, Transbank is future-proofing its business with flexible capabilities that drive speed-to-market and allow the company to compete successfully, while increasing customer retention and delivering even higher shareholder value.”