June 26, 2019
ACI Worldwide announced the launch of a service called ACI Disbursement Services, which allows businesses to send payments directly to customer debit cards, according to a press release.
The Naples, Florida-based payments company said the new service, which is part of its Up Bill Payment business, allows businesses, such as banks, insurance companies and other organizations to make real-time payments through Visa Direct and Mastercard Send.
"It currently takes several days to send out disbursements to consumers, which is unacceptable in a world where consumer expectations for instant and digital payments are high," Sanjay Gupta, executive vice president, ACI Worldwide, said in the release. "This is especially true with the Gen Z population, whose biggest challenge is the speed with which they receive money."
ACI cited research from Aite Group that shows 65% of consumers say it's important for them to receive instant payments from companies or government agencies.
Topics: Bill Payment, Card Brands, Mobile Payments
Companies: ACI Worldwide, Visa, MasterCard
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