ACI and Mastercard will begin their collaboration by working together to offer industry-leading technology and expertise to central banks, scheme operators and market participants to fast-track the migration and modernization of real-time payment solutions around the world
ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time digital payment software and solutions, and Mastercard, the global multi-rail payments technology company, today announced that they will partner to provide a wide range of real-time payment solutions globally. They will initially collaborate to offer best-in-class central infrastructure, payments localization and access solutions to central banks, scheme operators, financial institutions, payment service providers, and other organizations launching real-time payments initiatives.
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The real-time account-to-account payments market continues to quickly expand. Prime Time for Real-Time — a recent study analyzing global real-time, account-to-account payment volumes and forecasts across 30 global markets — projects a Compound Annual Growth Rate (CAGR) of 23.4 percent from 2019 to 2024. While existing schemes around the world are adding new participants and value-added services, additional country and regional schemes are launching each year, including more than 20 schemes in varying planning stages.
With a complementary real-time payments vision, the combination of Mastercard’s central infrastructure and ACI’s payments access and real-time message transformation technology delivers an unmatched end-to-end offering. The new joint solution delivers key benefits including:
Flexible deployment options — Mastercard and ACI collaboration provides deployment options that range from a fully managed service in the cloud, to supporting on-premise software for government, central bank and system operator-owned platforms
Ability to support existing local market requirements — the joint solution reduces the amount of time to onboard participants and provides flexibility to accelerate real-time adoption
ISO20022-first approach — joint real-time capabilities support organizations today and tomorrow, and provide translation