ACI Worldwide launches Instant Pay solution for European merchants
Global paytech firm ACI Worldwide has launched ACI Instant Pay, a real-time payment solution for merchants in Europe and the UK.
ACI Worldwide launches Instant Pay solution
Through a single API integration with the ACI payments orchestration platform, merchants using Instant Pay will be able to accept instant online, mobile and in-store payments.
ACI says payments will reach merchants’ accounts instantly with no settlement delays or chargebacks and without incurring interchange fees, helping them reduce operational costs and reduce the risk of fraud.
The launch comes against the backdrop of regulatory changes in Europe and the UK, with Europe mandating Single Euro Payments Area (SEPA) countries to offer instant payments, and the UK embarking on the modernisation of its Faster Payments scheme.
“In Europe, 90% of people aged 16 to 74 now use the internet, and 74% buy or order goods online,” comments Basant Singh, global head of ACI’s merchant business.
“In our expanding ‘always on’ transactional world, giving and receiving money electronically should be as instantaneous as handing over cash.”
