Mastercard and ACI sign payments infrastructure partnership
Payments software firm ACI Worldwide has signed a partnership agreement with Mastercard to offer new services to central banks.
The two firms say they will collaborate to offer “best-in-class” central infrastructure, payments localisation and access solutions.
ACI and Mastercard are targeting central banks, scheme operators, financial institutions, payment service providers.
The pair say a combination of Mastercard’s central infrastructure and ACI’s technology delivers an “unmatched” offering.
Key features of the tie-up are flexible deployment options, support for local requirements, and an ISO 20022-first approach.
“With more countries and regions embarking on the modernisation of their payments systems […] the market opportunity is significant,” says Paul Stoddart, president of new payment platforms at Mastercard.
“Working together with ACI, we will explore a wide range of opportunities to accelerate the development and usage of real-time and multi-channel payment platforms.”
Craig Saks, chief strategy and transformation officer at ACI Worldwide, says the firms share a “complementary track record”.
He adds: “This partnership creates the most robust and complete set of real-time capabilities in the market today.
“Aligning on an end-to-end solution will provide great benefit not only to banks and central infrastructures, but to merchants, billers, fintechs and intermediaries.”
ACI claims to support 18 real-time domestic schemes around the world, including Zelle and TCH in the US.
It claims that 50% of the volume on the UK’s Faster Payments is processed through its UP Immediate Payments platform.
Mastercard unveiled a virtual testing environment in September for the operation of central bank-backed digital currencies (CBDCs).