TransferWise, a London-based P2P money transfer startup, has selected ACI Worldwide’s Universal Payments Framework to expand its payment processing for any payment type, channel, currency or network.
The technology vendor claims that its solution will enable the money transfer provider to quickly add more payment types to its network.
The partnership will also give TransferWise access to the UK Faster Payments network, of which 60% of participants are using ACI’s faster payments solutions.
ACI Worldwide head of consumer banking for Europe Daren Wedge said: "Financial service providers, both old and new, are in a race to capture new market share and stay ahead of increasing cross-border competition.
"Leveraging ACI’s UP Framework will allow TransferWise to quickly support new value propositions and future access to a variety of channels, payment types and networks, including the UK Faster Payments network."