ACI Worldwide Powers Successful Launch of DuitNow Real-Time Payments in Malaysia
January 14, 2019 at 02:00 am
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ACI Worldwide announced that Payments Network Malaysia Sdn Bhd (PayNet) has implemented Malaysia’s Real-Time Retail Payments Platform (RPP) using ACI’s UP Real-Time Payments solution. The first service offered to the public under the platform is DuitNow, an instant credit transfer with a national addressing database that links mobile numbers and national ID numbers to account numbers. DuitNow allows bank customers to send money instantly and securely to accounts that are addressed by easily known identifiers, such as mobile phone numbers, identity card or passport numbers, and business registration numbers. The service aims to displace cash with simple and convenient internet and mobile payments, and has the potential to transform Malaysia’s payments ecosystem with immediate 24x7 funds availability. Following the launch of DuitNow, PayNet and ACI are now focused on the progressive introduction of new payments services, including QR Payments as well as Request-to-Pay, e-Mandates and Real-Time Debit, which are expected to transform how businesses collect payments in Malaysia. Corporate customers will also benefit from DuitNow’s extended message payload that allows DuitNow payment messages to carry information needed to complete business transactions.
ACI Worldwide, Inc. develops, markets, installs, and supports a line of software products and solutions primarily focused on facilitating real-time digital payments. The Companyâs segments include Banks, Merchants, and Billers. It provides payment solutions to large and mid-size banks globally for retail banking, real time, digital, and other payment services. It support merchants globally, including Tier 1 and Tier 2 merchants, online-only merchants and payment service providers, independent selling organizations, value-added resellers, and acquirers who service them. Within the Billers segment, the Company provides electronic bill presentment and payment (EBPP) services to companies operating in the consumer finance, insurance, healthcare, higher education, utility, government, and mortgage categories. Its solutions include ACI acquiring, ACI issuing, ACI enterprise payments platform, ACI low value real-time payments, ACI high value real-time payments, and others.