ACI, a Florida based payment system company has announced the launch of new capabilities in its UP Immediate Payments solution. According to the company, to address the needs of the growing demand of real-time payments and digital payments, it has decided to extend its API capabilities for integration into any digital channel which includes internet banking, mobile banking, mobile wallets, eCommerce portals, bill pay apps and social media payments.

These upgrades will bring the benefits of real-time payments to additional digital channels for consumers, merchants and billers. ACI’s UP Immediate Payments is a configurable pre-packaged and its end-to-end solution offering provides a full range of processing real-time payments, including origination, processing, orchestration, clearing and settlement, fraud detection and connectivity.

“Real-time payments are set to experience explosive growth worldwide, with the global pandemic highlighting the need for new and innovative digital payment options more than ever before,” said Craig Ramsey, general manager and head of real-time payments, ACI Worldwide. “The new capabilities within our UP Immediate Payments solution will enable financial institutions to be real-time ready, while at the same time create new value-added services for consumers and financial institutions.”

The UP Immediate Payments also offers additional support which includes Support for Request for Pay (RfP), Person-to-Person (P2P), recurring payments, Stand-in authorization, liquidity management, Pre-integration with other ACI solutions etc.

According to the press release, approximately 50 per cent of the UK’s Faster Payments (UKFP) and 75 per cent of Hungary’s GIRO transactions are processed through UP Immediate Payments.