ACI Worldwide supporting Saudi real-time payments
ACI Worldwide has announced that it is aiding fast bank adoption of real-time payments in Saudi Arabia with its UP Real-Time Payments solution. The solution offers participating Saudi banks faster and lower-risk onboarding to the new real-time services through its global partnership with Vocalink, a Mastercard company, which announced last week that it has partnered with the Saudi Arabian Monetary Authority (SAMA) to launch real-time payments in the Kingdom.
The partnership between ACI Worldwide and Vocalink combines Vocalink’s IPS solution for central payment infrastructures and ACI’s UP Real-Time Payments solution for financial institutions. Leveraging success from the US market, the combined offering will accelerate the availability of real-time payments in Saudi Arabia by re-using existing, proven product level integration, thus helping banks to quickly join the SAMA scheme using ACI’s solution.