Ripple Partner ACI Worldwide Teams Up with Mastercard to Create New Payment Solutions Globally

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Tue, 09/29/2020 - 12:00
Yuri Molchan
Ripple partner ACI has joined Mastercard in developing modernized payment solutions for central banks and other finance market players, letting them wire more seamlessly
Ripple Partner ACI Worldwide Teams Up with Mastercard to Create New Payment Solutions Globally
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According to a press release by ACI Worldwide, this Ripple partner has joined forces with the Mastercard global behemoth to cooperate in modernizing real-time payment methods and solutions for governments, central banks and other major and smaller market participants.

ACI
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ACI and Mastercard to offer an unmatched payment solution

Today, ACI and Mastercard announced the start of their cooperation in the payments sphere with the goal of improving real-time payments for central banks, payment service suppliers, financial institutions and other entities that deal with real-time payments.

The two major companies dealing with payments plan massive improvements in infrastructure, localization of payments and access solutions.

ACI Worldwide is a leader in providing software and solutions for digital payments around the world, helping to innovate the constantly developing market of remittances and real-time payments.

By entering the collaboration, ACI and Mastercard plan to combine forces and expertise to come up with a unique payment solution.

It will include the following:

- Flexible deployment options (from a fully cloud-based service to on-premise software for governments, central banks, etc).

- Adaptation to local market requirements. Thanks to the new solution, participants will take less time to jump onboard and start full-scale adoption.

- ISO20022 (ISO standardization is also used by Ripple).

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Two giants joining forces for best results

Paul Stoddard of Mastercard believes that now it is the perfect time for this offer, since more and more countries want to upgrade their real-time payment systems driven by consumer demand and market opportunities.

Craig Saks from ACI Worldwide reckons that the collaboration of the two highly skilled leading companies in the payments industry will greatly benefit banks, governments and also retail market playersmerchants, fintechs and intermediaries.

At the moment, ACI provides support for 18 real-time domestic payment schemes around the globe with Zelle and TCH (in the U.S.) among them.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.