ACI Worldwide: Universal Payment for Real-time Funding
Phillip Finnegan, MD, PacificThe Right Fit for the Modern Age
ACI Worldwide's solutions make sense in the modern day, at a time when businesses and merchants are demanding real-time access to funds and a move to cloud infrastructure. “Financial institutions and merchants are looking at technologies to make the payment process as easy as possible without risks of security or fraud,” says Phillip Finnegan, Managing Director for the Pacific region at ACI Worldwide.
The traditional banking model of working for specific hours and business days results in a delay in the transfer of funds from a bank to a merchant or vice-versa and then down to the receiving entity. Today, however, there is both, a “regulatory desire” as well as consumers wanting access to funds at any point and place. There's also been a trend towards open APIs. Due to the convergence of enabling technologies, removing friction from payments can increase innovations towards such possibilities—better access to data and the ability to initiate transactions at any point in time
The aim was also to meet regulatory demand as well as new product requirements coming from customers, for new services and access to real-time funds
ACI has two delivery models that it offers customers— on-premise, which is run at the customer’s site—and via ACI’s private hosted cloud. “More customers are turning to a SaaS environment and running their payments out of our state-of-the-art data centers, which deliver the utmost in reliability, security and data privacy,” says Finnegan.
In the first case, customers get a degree of control and can achieve levels of integration and customization that are important to them. The latter is where customers look for wholly outsourced models, where ACI runs all the systems. This setup enables customers to take on a hybrid approach, where the company runs certain aspects of the environment and customers can run parts of the solution in-house. Regardless of the solution offering, when ACI takes on new clients, it always focuses on the client’s customers and their market segments.
Success Follows Innovation
When Westpac New Zealand, a leading established bank, was looking to transform its business, it approached ACI. The bank aimed to meet regulatory demand as well as new product requirements coming from customers, for new services and access to real-time funds. One of the ACI solutions it utilized was UP Retail Payments, a flexible offering that runs in multiple environments, including Linus. UP Retail Payments has delivered the bank a significant operational improvement and increased its agility; moreover, with Retail Payments, the bank did not have to worry about its payment infrastructure on all the compliance activities. Instead, it was able to focus on innovation for customers and IT within the bank.
As financial institutions look to more effectively compete in today’s rapidly changing payments environment, ACI has launched new API manager capabilities to support their (FIs) open banking strategies. ACI’s API manager capabilities support customers in developing a strategic approach to the emerging open banking payments ecosystem, and provide the tools to meet established and emerging regulatory requirements.
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To be parallel with customer demand for quick and frictionless transacting, acquirers and issuers need apply exemptions wherever possible and the solutions of ACI provides every participants in the transaction ecosystem an advantage.
FREMONT, CA: ACI Worldwide is a recognized, leading global provider of real-time electronic payment and banking solutions. The company recently declared several tools and solution updates to prepare the payment service providers (PSPs), acquirers, issuers, and merchants for Strong Customer Authentication (SCA) and exemptions.
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ACI Worldwide Named to CNBC's World's Top Fintech Companies 2024 List
ACI Worldwide Extends Strategic Partnership with Worldpay
OMAHA, Neb. & LONDON --ACI Worldwide (NASDAQ: ACIW), a global leader in mission-critical, real-time payments solutions, and Worldpay, a leading global provider of payment processing solutions, today announced an extension of their longstanding partnership. The agreeme... ent will see ACI continue to provide critical infrastructure to Worldpay to support merchants worldwide. Through ACI’s innovative, market-leading payments software solutions, Worldpay will continue to offer market-leading stability and payments acceptance for its global merchants.
Worldpay delivers payments technology and solutions that enable merchants to accept and process in-store, online and mobile electronic payments. The company processes more than $2 trillion of transaction volume per year for more than one million merchant locations, including blue-chip customers, across industries such as retail, technology, media, travel, online gaming and financial services. Worldpay will leverage ACI’s capabilities to support payments acceptance within its core rest-of-world platform.
The solution gives Worldpay access to innovative technology, with the availability to take up new features and functionality, enhancing payments acceptance across different payment types while managing interchange fee risks and reducing operational costs. Worldpay will have the potential to benefit from accelerated speed to new markets, enabling the establishment of regional hubs to support greater payments acceptance through advanced technology and with the support of regional know-how from ACI.
“We are excited and proud to extend our longstanding partnership with Worldpay,” said Alessandro Silva, chief revenue officer, ACI Worldwide. “ACI’s cutting-edge technology will support Worldpay’s focus on expanding its global reach and underscoring its position as a dominant player in the global payments industry.”
“The ACI and Worldpay partnership has delivered significant value in the market, with transaction volumes growing by more than 40% over the last five years,” added Nick Craig, head of Europe, ACI Worldwide. “ACI’s innovative, market-leading payments software solutions provide Worldpay and payment companies globally with the flexibility to design and configure new products, modify existing ones and manage payments effectively and securely.”
“Worldpay and ACI have enjoyed a long and successful partnership,” commented Joe Tautges, chief operating officer of Worldpay. “As the new Worldpay forges ahead, we are very pleased to extend this key relationship to support payments acceptance for our global merchants."
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Worldpay delivers payments technology and solutions that enable merchants to accept and process in-store, online and mobile electronic payments. The company processes more than $2 trillion of transaction volume per year for more than one million merchant locations, including blue-chip customers, across industries such as retail, technology, media, travel, online gaming and financial services. Worldpay will leverage ACI’s capabilities to support payments acceptance within its core rest-of-world platform.
The solution gives Worldpay access to innovative technology, with the availability to take up new features and functionality, enhancing payments acceptance across different payment types while managing interchange fee risks and reducing operational costs. Worldpay will have the potential to benefit from accelerated speed to new markets, enabling the establishment of regional hubs to support greater payments acceptance through advanced technology and with the support of regional know-how from ACI.
“We are excited and proud to extend our longstanding partnership with Worldpay,” said Alessandro Silva, chief revenue officer, ACI Worldwide. “ACI’s cutting-edge technology will support Worldpay’s focus on expanding its global reach and underscoring its position as a dominant player in the global payments industry.”
“The ACI and Worldpay partnership has delivered significant value in the market, with transaction volumes growing by more than 40% over the last five years,” added Nick Craig, head of Europe, ACI Worldwide. “ACI’s innovative, market-leading payments software solutions provide Worldpay and payment companies globally with the flexibility to design and configure new products, modify existing ones and manage payments effectively and securely.”
“Worldpay and ACI have enjoyed a long and successful partnership,” commented Joe Tautges, chief operating officer of Worldpay. “As the new Worldpay forges ahead, we are very pleased to extend this key relationship to support payments acceptance for our global merchants."
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ACI Worldwide Collaborates with Red Hat to Deliver Enterprise Payments for the Cloud Era
OMAHA, Neb. & RALEIGH, N.C--ACI Worldwide (NASDAQ:ACIW), an innovator in global payments technology, today announced a collaboration with Red Hat Inc., the world’s leading provider of open source solutions, to make ACI’s cloud-native Enterprise Payments Platform ava... ailable on any cloud infrastructure. With this collaboration, ACI will help customers ease their migration to the cloud to better adapt to the rapidly evolving digital economy and power the next generation of payment services. Using Red Hat OpenShift empowers banks, merchants, and billers with more flexibility and choice on how they wish to deploy their payment services, whether that is on-premises, in the cloud, or as a managed service.
As a Red Hat partner, ACI gains access to Red Hat’s open source portfolio of cloud-native artificial intelligence and hybrid cloud platforms. The collaboration will help ACI customers simplify payment operations, allowing them to deploy ACI’s enterprise payments platform on any cloud infrastructure and offering enhanced resiliency and scale while reducing operating costs.
“We are excited to extend our collaboration by joining the Red Hat partner ecosystem,” said Scotty Perkins, head of product management, ACI Worldwide. “We believe that this collaboration will be a game changer for many of our partners and customers to more easily reap the benefits of deploying payment services in the cloud, such as improving operational efficiency, accelerating the launch of new products, and ultimately driving growth.”
“We look forward to collaborating with ACI to help deliver a mission-critical enterprise payments platform for customers globally,” said Stefanie Chiras, senior vice president, partner ecosystem success, Red Hat. “At Red Hat, we are committed to supporting our partners and customers with a flexible, scalable, enterprise-grade technology platform like Red Hat OpenShift, helping them maximize innovation and reduce time to market while enabling the resiliency, performance, and service quality required by leading banks across the globe.”
Note to editors: Red Hat, the Red Hat logo, and OpenShift are trademarks or registered trademarks of Red Hat, Inc. or its subsidiaries in the U.S. and other countries.
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As a Red Hat partner, ACI gains access to Red Hat’s open source portfolio of cloud-native artificial intelligence and hybrid cloud platforms. The collaboration will help ACI customers simplify payment operations, allowing them to deploy ACI’s enterprise payments platform on any cloud infrastructure and offering enhanced resiliency and scale while reducing operating costs.
“We are excited to extend our collaboration by joining the Red Hat partner ecosystem,” said Scotty Perkins, head of product management, ACI Worldwide. “We believe that this collaboration will be a game changer for many of our partners and customers to more easily reap the benefits of deploying payment services in the cloud, such as improving operational efficiency, accelerating the launch of new products, and ultimately driving growth.”
“We look forward to collaborating with ACI to help deliver a mission-critical enterprise payments platform for customers globally,” said Stefanie Chiras, senior vice president, partner ecosystem success, Red Hat. “At Red Hat, we are committed to supporting our partners and customers with a flexible, scalable, enterprise-grade technology platform like Red Hat OpenShift, helping them maximize innovation and reduce time to market while enabling the resiliency, performance, and service quality required by leading banks across the globe.”
Note to editors: Red Hat, the Red Hat logo, and OpenShift are trademarks or registered trademarks of Red Hat, Inc. or its subsidiaries in the U.S. and other countries.
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World’s Major Economies Playing Catch-Up as Widespread Adoption Drives Global Real-Time Payments Growth – ACI Worldwide Report
• 195.0B real-time payments (RTP) transactions were recorded globally in 2022, a YoY growth of 63.2%, according to the 2023 Prime Time for Real-Time report from ACI Worldwide and GlobalData
• India remains the undisputed RTP leader — responsible for 46% of all transactions worldwide — followed by Brazil, China, Thailand and South Korea
• Governments and regulators around the world... d are taking steps to drive adoption of RTPs as a path to economic growth and greater financial inclusion
MIAMI: New sophisticated use cases for consumers and businesses are driving global RTP volumes to record highs, with 195.0B RTP transactions recorded globally in 2022 — a YoY growth of 63.2% — according to the 2023 Prime Time for Real-Time report, published by ACI Worldwide (NASDAQ: ACIW), a global leader in mission-critical, real-time payments software, in partnership with GlobalData, a leading data and analytics company.
• 511.7B real-time transactions globally are forecast by 2027, representing a 2022-2027 compound annual growth rate (CAGR) of 21.3%.
• By 2027, RTPs are expected to account for 27.8% of all electronic payments globally.
• India remains the undisputed RTP leader, with a staggering 89.5B transactions in 2022 and a YoY growth rate of 76.8%. India accounted for 46% of all global real-time transactions in 2022.
• Brazil was the third fastest-growing RTP market in 2022, with a YoY growth of 228.9%, and is in second place in transactions, with 29.2B in 2022, representing 15% of all global real-time transactions.
• China, Thailand and South Korea are third, fourth and fifth, respectively, on the list of the top RTP markets, with 17.6B, 16.4B and 8B transactions, respectively, in 2022.
Governments and regulators are taking notice of consumer adoption
With consumers and businesses around the world demanding cheaper, faster and more efficient ways to pay, and merchant acceptance of RTPs on the rise, consumer and business adoption via popular new use cases is heating up. This year’s Prime Time for Real-Time report analyzes RTP transactions per head of population per month for the first time, highlighting where consumers and businesses most actively use RTP:
• Bahrain, a country of just 1.5 million people, is forecast to have the highest level of RTP consumer adoption by 2027, with 83.3 RTP transactions per head per month projected.
• Consumers in Brazil (#2) and Thailand (#3) are expected to make 51.8 and 43.6 RTP transactions per month, respectively, by 2027.
• Four European countries — Netherlands, Sweden, Denmark and Finland — are forecast among the top 10 countries for RTP consumer adoption by 2027.
• The U.K., Canada, the U.S., Germany, France and Italy — all top 10 global economies by GDPi — are forecast to place 17th, 19th, 33rd, 34th, 35th and 42nd, respectively, for consumer adoption in 2027.
“This year’s report highlights how consumer and business adoption of real-time payments accelerates when the conditions are right,” said Craig Ramsey, global head of real-time payments and banking, ACI Worldwide. “The countries at the top of our league table — Bahrain, Brazil and Thailand — are all relatively recent enablers of real-time payments. Concerted industry collaboration and government mandates, widespread merchant adoption, strong brand recognition for a scheme, and related services, such as digital wallets, have provided the perfect combination for strong growth in these markets.”
Governments and regulators in other countries are beginning to take notice and have launched initiatives to emulate the success of the most successful RTP markets.
In Europe, the EU Commission has proposed a law mandating RTPs across its 27 member states. The U.K. has embarked on its New Payments Architecture program, which aims to modernize the country’s RTP rails. In the U.S., the Federal Reserve recently announced the launch date for its highly anticipated FedNow service to expand RTP access in the U.S. — a highly significant event in a market where regulators tend to lean toward non-intervention.
“Real-time payments are the future of modern, digital economies. Governments and regulators around the world are beginning to understand this and increasingly see them as a path to drive economic growth and financial inclusion,” said Thomas Warsop, interim president and CEO, ACI Worldwide.
“Real-time payments will help to secure the competitiveness of banks and financial services providers. They remove payments friction, contribute to greater liquidity and ultimately increase customer stickiness. They complement the holistic digital proposition of modern financial institutions.
“Banks should evaluate whether they are truly maximizing existing real-time rails in their market. Ultimately, the extent to which they make real-time payments part of their offering is a strategic decision. It seems increasingly clear, however, that limiting their commitment to the minimum also means limiting their potential share of the future payments market,” Warsop concluded.
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• India remains the undisputed RTP leader — responsible for 46% of all transactions worldwide — followed by Brazil, China, Thailand and South Korea
• Governments and regulators around the world... d are taking steps to drive adoption of RTPs as a path to economic growth and greater financial inclusion
MIAMI: New sophisticated use cases for consumers and businesses are driving global RTP volumes to record highs, with 195.0B RTP transactions recorded globally in 2022 — a YoY growth of 63.2% — according to the 2023 Prime Time for Real-Time report, published by ACI Worldwide (NASDAQ: ACIW), a global leader in mission-critical, real-time payments software, in partnership with GlobalData, a leading data and analytics company.
• 511.7B real-time transactions globally are forecast by 2027, representing a 2022-2027 compound annual growth rate (CAGR) of 21.3%.
• By 2027, RTPs are expected to account for 27.8% of all electronic payments globally.
• India remains the undisputed RTP leader, with a staggering 89.5B transactions in 2022 and a YoY growth rate of 76.8%. India accounted for 46% of all global real-time transactions in 2022.
• Brazil was the third fastest-growing RTP market in 2022, with a YoY growth of 228.9%, and is in second place in transactions, with 29.2B in 2022, representing 15% of all global real-time transactions.
• China, Thailand and South Korea are third, fourth and fifth, respectively, on the list of the top RTP markets, with 17.6B, 16.4B and 8B transactions, respectively, in 2022.
Governments and regulators are taking notice of consumer adoption
With consumers and businesses around the world demanding cheaper, faster and more efficient ways to pay, and merchant acceptance of RTPs on the rise, consumer and business adoption via popular new use cases is heating up. This year’s Prime Time for Real-Time report analyzes RTP transactions per head of population per month for the first time, highlighting where consumers and businesses most actively use RTP:
• Bahrain, a country of just 1.5 million people, is forecast to have the highest level of RTP consumer adoption by 2027, with 83.3 RTP transactions per head per month projected.
• Consumers in Brazil (#2) and Thailand (#3) are expected to make 51.8 and 43.6 RTP transactions per month, respectively, by 2027.
• Four European countries — Netherlands, Sweden, Denmark and Finland — are forecast among the top 10 countries for RTP consumer adoption by 2027.
• The U.K., Canada, the U.S., Germany, France and Italy — all top 10 global economies by GDPi — are forecast to place 17th, 19th, 33rd, 34th, 35th and 42nd, respectively, for consumer adoption in 2027.
“This year’s report highlights how consumer and business adoption of real-time payments accelerates when the conditions are right,” said Craig Ramsey, global head of real-time payments and banking, ACI Worldwide. “The countries at the top of our league table — Bahrain, Brazil and Thailand — are all relatively recent enablers of real-time payments. Concerted industry collaboration and government mandates, widespread merchant adoption, strong brand recognition for a scheme, and related services, such as digital wallets, have provided the perfect combination for strong growth in these markets.”
Governments and regulators in other countries are beginning to take notice and have launched initiatives to emulate the success of the most successful RTP markets.
In Europe, the EU Commission has proposed a law mandating RTPs across its 27 member states. The U.K. has embarked on its New Payments Architecture program, which aims to modernize the country’s RTP rails. In the U.S., the Federal Reserve recently announced the launch date for its highly anticipated FedNow service to expand RTP access in the U.S. — a highly significant event in a market where regulators tend to lean toward non-intervention.
“Real-time payments are the future of modern, digital economies. Governments and regulators around the world are beginning to understand this and increasingly see them as a path to drive economic growth and financial inclusion,” said Thomas Warsop, interim president and CEO, ACI Worldwide.
“Real-time payments will help to secure the competitiveness of banks and financial services providers. They remove payments friction, contribute to greater liquidity and ultimately increase customer stickiness. They complement the holistic digital proposition of modern financial institutions.
“Banks should evaluate whether they are truly maximizing existing real-time rails in their market. Ultimately, the extent to which they make real-time payments part of their offering is a strategic decision. It seems increasingly clear, however, that limiting their commitment to the minimum also means limiting their potential share of the future payments market,” Warsop concluded.
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ACI Worldwide Partners with Philippines’ Security Bank Corporation to Transform the Bank’s Real-Time Payments Platform
Security Bank utilizes ACI’s Enterprise Payments Platform to modernize payments infrastructure, bringing “Better Banking” promise to life
SINGAPORE: ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time payments and digital payment software solutions, and Security Bank Cor... rporation (Security Bank), a leading universal bank in Philippines, today announced that the bank has chosen ACI Worldwide’s Enterprise Payments Platform solution to strengthen its real-time payment capabilities.
The partnership will see ACI Worldwide accelerate Security Bank’s digital transformation journey, helping the bank stay ahead of evolving customer and regulatory demands by providing full payment hub capabilities for low- and high-value payments, including payment processing, domestic scheme gateways and SWIFT on ISO 20022 standards on a single platform.
ACI Worldwide’s cloud-native real-time payment platform and flexible, modern architecture ensure that Security Bank can provide secure services across consumers, merchants and corporate payments with emerging and new payment types. By providing a best-in-class payments solution and global domain expertise, Security Bank will be a market leader in payments innovation in the Philippines and deliver its promise of Better Banking with customer centricity at the forefront.
According to ACI Worldwide’s 2022 Prime-Time for Real-Time report, the volume of real-time payments in the Philippines continues to grow, with banks encouraging new domestic use cases and domestic fintechs emerging in the market.
The Philippines' payment system is on the verge of modernization, and the integration of its financial structure is essential to ensure significant economic benefits. The partnership between ACI Worldwide and Security Bank is a milestone for the bank’s payments modernization efforts and enables the bank to play a key role in helping the nation reap the benefits of real-time payments domestically and across the region.
“With the Philippine payments system primed for rapid growth, we require a technology platform that is scalable and can be modified as our customers’ needs and demands evolve. The ACI partnership will enable us to provide our customers with a seamless real-time payments experience, aligned with Security Bank's brand promise of Better Banking,” said Stephen John Bell, SVP and Channels Network Group Head at Security Bank Corporation.
“ACI Worldwide is the APAC leader in real-time payments transformation. Our robust solutions go from powering country-wide real-time payment ecosystems to interconnecting cross-border real-time payments networks and enabling the integration of different types of payments into a single, unified, intelligent, cloud-native, payment hub. By utilizing ACI Worldwide’s technology, Security Bank will be able to bring new products and services to customers faster, add new payment alternatives seamlessly and cost-effectively to its existing core infrastructure, and tap into ACI Worldwide’s payment ecosystem in the APAC region,” said Leslie Choo, Senior Vice President, Managing Director – APAC, ACI Worldwide. “We look forward to Security Bank providing personalized digital experiences that can cater to ongoing change, complexity and uncertainty.”
ACI Worldwide has a successful track record of implementing critical real-time ISO 20022 payments ecosystems and central infrastructures across APAC countries. It provides the central infrastructure for Indonesia’s BI-FAST, one of the world’s largest real-time payment initiatives, which will incorporate 135 banks as well as merchants and payment service providers when fully implemented.
The company also powers the real-time central infrastructure and the entire bank ecosystem of Malaysia’s Real-time Retail Payments Platform. Additionally, ACI Worldwide supports Thailand’s National ITMX with real-time ISO 20022 bulk payments alongside many real-time payment schemes across the region, including Philippines, Singapore and Australia.
Globally, ACI Worldwide covers approximately one-third of the countries that offer real-time payments services, reaching about 1.8 billion people* served by various organizations, including central governments, payment networks, banks, financial institutions and fintech companies.
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SINGAPORE: ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time payments and digital payment software solutions, and Security Bank Cor... rporation (Security Bank), a leading universal bank in Philippines, today announced that the bank has chosen ACI Worldwide’s Enterprise Payments Platform solution to strengthen its real-time payment capabilities.
The partnership will see ACI Worldwide accelerate Security Bank’s digital transformation journey, helping the bank stay ahead of evolving customer and regulatory demands by providing full payment hub capabilities for low- and high-value payments, including payment processing, domestic scheme gateways and SWIFT on ISO 20022 standards on a single platform.
ACI Worldwide’s cloud-native real-time payment platform and flexible, modern architecture ensure that Security Bank can provide secure services across consumers, merchants and corporate payments with emerging and new payment types. By providing a best-in-class payments solution and global domain expertise, Security Bank will be a market leader in payments innovation in the Philippines and deliver its promise of Better Banking with customer centricity at the forefront.
According to ACI Worldwide’s 2022 Prime-Time for Real-Time report, the volume of real-time payments in the Philippines continues to grow, with banks encouraging new domestic use cases and domestic fintechs emerging in the market.
The Philippines' payment system is on the verge of modernization, and the integration of its financial structure is essential to ensure significant economic benefits. The partnership between ACI Worldwide and Security Bank is a milestone for the bank’s payments modernization efforts and enables the bank to play a key role in helping the nation reap the benefits of real-time payments domestically and across the region.
“With the Philippine payments system primed for rapid growth, we require a technology platform that is scalable and can be modified as our customers’ needs and demands evolve. The ACI partnership will enable us to provide our customers with a seamless real-time payments experience, aligned with Security Bank's brand promise of Better Banking,” said Stephen John Bell, SVP and Channels Network Group Head at Security Bank Corporation.
“ACI Worldwide is the APAC leader in real-time payments transformation. Our robust solutions go from powering country-wide real-time payment ecosystems to interconnecting cross-border real-time payments networks and enabling the integration of different types of payments into a single, unified, intelligent, cloud-native, payment hub. By utilizing ACI Worldwide’s technology, Security Bank will be able to bring new products and services to customers faster, add new payment alternatives seamlessly and cost-effectively to its existing core infrastructure, and tap into ACI Worldwide’s payment ecosystem in the APAC region,” said Leslie Choo, Senior Vice President, Managing Director – APAC, ACI Worldwide. “We look forward to Security Bank providing personalized digital experiences that can cater to ongoing change, complexity and uncertainty.”
ACI Worldwide has a successful track record of implementing critical real-time ISO 20022 payments ecosystems and central infrastructures across APAC countries. It provides the central infrastructure for Indonesia’s BI-FAST, one of the world’s largest real-time payment initiatives, which will incorporate 135 banks as well as merchants and payment service providers when fully implemented.
The company also powers the real-time central infrastructure and the entire bank ecosystem of Malaysia’s Real-time Retail Payments Platform. Additionally, ACI Worldwide supports Thailand’s National ITMX with real-time ISO 20022 bulk payments alongside many real-time payment schemes across the region, including Philippines, Singapore and Australia.
Globally, ACI Worldwide covers approximately one-third of the countries that offer real-time payments services, reaching about 1.8 billion people* served by various organizations, including central governments, payment networks, banks, financial institutions and fintech companies.
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Global real-time payments growth ‘sustainable’ as new use cases push transactions to record highs: ACI Worldwide
Global real-time payments growth has reached sustainable levels with 266.2 billion real-time payments transactions recorded in 2023. This represents year-over-year (y-o-y) growth of 42.2%. The finding is revealed in the 2024 Prime Time for Real-Time report, published by ACI Worldwid... de, in partnership with GlobalData, publishers of EPI.
Previous reports highlighted the economic benefits of real-time payments and consumer uptake around the world. This year’s report is now in its fifth edition.
It takes a deep dive into some of the world’s leading real-time payments markets. The report also highlights the factors that have enabled those countries to build successful end-to-end real-time payments ecosystems.
In addition, it reveals that many of the newer market entrants around the globe are quickly catching up. And it notes that lawmakers and central banks around the world are pushing for adoption, determined to reap the economic benefits of real-time payments and drive financial inclusion for their citizens.
Prime Time for Real Time report: key takeaways
• Globally, 575.1 billion real-time transactions are forecast by 2028. This represents a 2023-2028 compound annual growth rate (CAGR) of 16.7%. By 2028, real-time payments are expected to account for 27.1% of all electronic payments globally.
• India continues to dominate the global real-time payments market, with 129.3 billion transactions in 2023. The figure is more than the rest of the world’s top 10 real-time payments markets combined. Of all electronic payments made in India, 84% are now real-time.
• Brazil saw a remarkable y-o-y growth of 77.9% in 2023, with 37.4 billion real-time payments transactions. Brazil is the undisputed real-time payments leader in Latin America, responsible for 75% of all transactions in the region. Other Latin American countries are pushing ahead with real-time payments modernisation initiatives, looking to replicate Brazil’s success. Peru and Colombia are predicted to have the highest 2023-2028 CAGRs in the region, with 51.2% and 42.6%, respectively.
• Asia Pacific is the largest real-time payments market, with 185.8 billion transactions in 2023, representing 24.0% of all electronic payments in the region. With four of the top five real-time payments markets by volume, the APAC region is projected to see over 351.5 billion real-time transactions by 2028, a 2023-2028 CAGR of 13.6%.
• The Middle East is the fastest-growing real-time payments market globally. Oman, Kuwait and Qatar all launched schemes in 2023, joining more established regional players like Saudi Arabia, Bahrain and UAE. The 2023-2028 CAGR for the region is 28.8%. Transactions are expected to rise from 855 million to 3.0 billion by 2028.
• The European Union Instant Payments Regulation, passed in February 2024, is expected to drive instant payments volume across the Single Euro Payments Area. This includes the 27 EU member states. By 2028, instant payments are forecast to account for 13% of all electronic payments in Europe, up from 8% in 2023.North
• America is a major growth market to watch. This is primarily due to the launch of the FedNow service in the US. in 2023, with a projected 2023-2028 CAGR of 27.1%.
• Nigeria is the undisputed real-time payments leader in Africa, another major growth market. The country recorded 7.9 billion transactions in 2023. Real-time payments had an impressive 82.1% share of all electronic payments in 2023.
Lessons from the most successful real-time payments markets
For the first time, this year’s report takes a deep dive into five of the most successful real-time payments markets worldwide. It analyses the factors that have fuelled growth of real time payments in India, Brazil, Indonesia, Malaysia, and Netherlands. It also features use cases that have allowed those countries to develop thriving real-time payment ecosystems with the power to transform businesses and improve consumers’ lives.
The power of collaboration
Whether by government mandate or industry consensus, real-time payments systems thrive through active collaboration. Financial institutions, payment service providers, central banks and government institutions, merchants and third-party stakeholders must work together to build and operate successful real-time payments ecosystems.
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Previous reports highlighted the economic benefits of real-time payments and consumer uptake around the world. This year’s report is now in its fifth edition.
It takes a deep dive into some of the world’s leading real-time payments markets. The report also highlights the factors that have enabled those countries to build successful end-to-end real-time payments ecosystems.
In addition, it reveals that many of the newer market entrants around the globe are quickly catching up. And it notes that lawmakers and central banks around the world are pushing for adoption, determined to reap the economic benefits of real-time payments and drive financial inclusion for their citizens.
Prime Time for Real Time report: key takeaways
• Globally, 575.1 billion real-time transactions are forecast by 2028. This represents a 2023-2028 compound annual growth rate (CAGR) of 16.7%. By 2028, real-time payments are expected to account for 27.1% of all electronic payments globally.
• India continues to dominate the global real-time payments market, with 129.3 billion transactions in 2023. The figure is more than the rest of the world’s top 10 real-time payments markets combined. Of all electronic payments made in India, 84% are now real-time.
• Brazil saw a remarkable y-o-y growth of 77.9% in 2023, with 37.4 billion real-time payments transactions. Brazil is the undisputed real-time payments leader in Latin America, responsible for 75% of all transactions in the region. Other Latin American countries are pushing ahead with real-time payments modernisation initiatives, looking to replicate Brazil’s success. Peru and Colombia are predicted to have the highest 2023-2028 CAGRs in the region, with 51.2% and 42.6%, respectively.
• Asia Pacific is the largest real-time payments market, with 185.8 billion transactions in 2023, representing 24.0% of all electronic payments in the region. With four of the top five real-time payments markets by volume, the APAC region is projected to see over 351.5 billion real-time transactions by 2028, a 2023-2028 CAGR of 13.6%.
• The Middle East is the fastest-growing real-time payments market globally. Oman, Kuwait and Qatar all launched schemes in 2023, joining more established regional players like Saudi Arabia, Bahrain and UAE. The 2023-2028 CAGR for the region is 28.8%. Transactions are expected to rise from 855 million to 3.0 billion by 2028.
• The European Union Instant Payments Regulation, passed in February 2024, is expected to drive instant payments volume across the Single Euro Payments Area. This includes the 27 EU member states. By 2028, instant payments are forecast to account for 13% of all electronic payments in Europe, up from 8% in 2023.North
• America is a major growth market to watch. This is primarily due to the launch of the FedNow service in the US. in 2023, with a projected 2023-2028 CAGR of 27.1%.
• Nigeria is the undisputed real-time payments leader in Africa, another major growth market. The country recorded 7.9 billion transactions in 2023. Real-time payments had an impressive 82.1% share of all electronic payments in 2023.
Lessons from the most successful real-time payments markets
For the first time, this year’s report takes a deep dive into five of the most successful real-time payments markets worldwide. It analyses the factors that have fuelled growth of real time payments in India, Brazil, Indonesia, Malaysia, and Netherlands. It also features use cases that have allowed those countries to develop thriving real-time payment ecosystems with the power to transform businesses and improve consumers’ lives.
The power of collaboration
Whether by government mandate or industry consensus, real-time payments systems thrive through active collaboration. Financial institutions, payment service providers, central banks and government institutions, merchants and third-party stakeholders must work together to build and operate successful real-time payments ecosystems.
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ACI Worldwide and RS2 Launch One-Stop Solution for Acquirers and Issuers in Brazil
• New offering combines the best of ACI’s and RS2’s acquiring and issuing capabilities to launch a joint solution for the Brazilian market
• Cloud-enabled platform allows payment companies to launch new products and services quickly
OMAHA, Neb. & SAO PAOLO, Brazil- ... important">ACI Worldwide (NASDAQ: ACIW), a global leader in mission-critical, real-time payments software, and RS2, a global payments processor and technology provider, have joined forces to offer a one-stop solution for acquirers and issuers in Brazil. The new offering combines the best of ACI’s and RS2’s acquiring and issuing capabilities, supporting financial institutions, integrated software vendors, payment facilitators, independent sales organizations and payment processors on their digital transformation and modernization journey. It brings the global expertise and technology of both companies to the Brazilian market jointly for the first time.
The combined new cloud-enabled technology platform enables merchants, banks and payment service providers to launch new products and services efficiently using configuration portals that integrate seamlessly to third-party platforms, orchestrating the entire payments ecosystem within the client environment, making the platform secure, reducing operational costs and ultimately increasing revenues. It is supported by ACI Fraud Management and Payments Intelligence, offering customers real-time enterprise fraud management capabilities, including advanced machine learning, predictive analytics and expertly defined rules to combat the growing threat of fraud. The platform is certified for Brazil and meets all local regulatory requirements, including PCI, and local card scheme standards.
Key advantages of the new acquiring and issuing platform include:
• Acquiring: The joint solution is available as a software as a service offering for the first time in Latin America, allowing existing financial players to launch a new acquiring business quickly and cost-efficiently. The new offering transforms the merchant experience, manages interchange fee risk and simplifies expansion and global compliance.
• Issuing: Issuers and processors profit from one single consolidated issuing platform for all card types, including credit, debit and pre-paid cards, domestic cards, and new payment instruments such as wearables – enabling them to offer customers better service, more choice and increased fraud protection.
“We are delighted to join forces with RS2 and bring a sophisticated, end-to-end issuing and acquiring solution to the Brazilian market,” said Vlademir Santos, head of Brazil, ACI Worldwide. “Our combined new solution will be a game changer for the Brazilian market. It will enable our customers to drive business growth through a modern and flexible solution and to take advantage of new revenue opportunities of launching new products and services.”
“The constantly changing demands of customers to pay when, where and how they choose require innovation and financial agility from issuers and acquirers,” explained Radi El Haj, CEO of RS2. “Our advanced and fully integrated acquiring and card issuing capabilities, combined with ACI’s fraud and payments intelligence expertise, provide payment companies with the flexibility to design and configure new products, modify existing ones and effectively manage future payments securely.”
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• Cloud-enabled platform allows payment companies to launch new products and services quickly
OMAHA, Neb. & SAO PAOLO, Brazil- ... important">ACI Worldwide (NASDAQ: ACIW), a global leader in mission-critical, real-time payments software, and RS2, a global payments processor and technology provider, have joined forces to offer a one-stop solution for acquirers and issuers in Brazil. The new offering combines the best of ACI’s and RS2’s acquiring and issuing capabilities, supporting financial institutions, integrated software vendors, payment facilitators, independent sales organizations and payment processors on their digital transformation and modernization journey. It brings the global expertise and technology of both companies to the Brazilian market jointly for the first time.
The combined new cloud-enabled technology platform enables merchants, banks and payment service providers to launch new products and services efficiently using configuration portals that integrate seamlessly to third-party platforms, orchestrating the entire payments ecosystem within the client environment, making the platform secure, reducing operational costs and ultimately increasing revenues. It is supported by ACI Fraud Management and Payments Intelligence, offering customers real-time enterprise fraud management capabilities, including advanced machine learning, predictive analytics and expertly defined rules to combat the growing threat of fraud. The platform is certified for Brazil and meets all local regulatory requirements, including PCI, and local card scheme standards.
Key advantages of the new acquiring and issuing platform include:
• Acquiring: The joint solution is available as a software as a service offering for the first time in Latin America, allowing existing financial players to launch a new acquiring business quickly and cost-efficiently. The new offering transforms the merchant experience, manages interchange fee risk and simplifies expansion and global compliance.
• Issuing: Issuers and processors profit from one single consolidated issuing platform for all card types, including credit, debit and pre-paid cards, domestic cards, and new payment instruments such as wearables – enabling them to offer customers better service, more choice and increased fraud protection.
“We are delighted to join forces with RS2 and bring a sophisticated, end-to-end issuing and acquiring solution to the Brazilian market,” said Vlademir Santos, head of Brazil, ACI Worldwide. “Our combined new solution will be a game changer for the Brazilian market. It will enable our customers to drive business growth through a modern and flexible solution and to take advantage of new revenue opportunities of launching new products and services.”
“The constantly changing demands of customers to pay when, where and how they choose require innovation and financial agility from issuers and acquirers,” explained Radi El Haj, CEO of RS2. “Our advanced and fully integrated acquiring and card issuing capabilities, combined with ACI’s fraud and payments intelligence expertise, provide payment companies with the flexibility to design and configure new products, modify existing ones and effectively manage future payments securely.”
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“It reinforces our unwavering commitment to innovation and excellence, putting the most cutting-edge payment solutions in the hands of our valued customers. We're not stopping here – we'll continue pushing boundaries, driving growth and delivering exceptional value to all of our key stakeholders.”
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CNBC’s World's Top Fintech Companies list is based on a rigorous analysis of key performance indicators across critical market segments. To qualify, a company must focus primarily on developing or providing innovative, technology-based and finance-related products and services. Incorporating in-depth analysis of publicly available data, CNBC, in partnership with Statista, evaluates thousands of companies to identify the most deserving fintech industry leaders and innovators.
“This recognition is an incredible honor for the entire ACI Worldwide team,” said Thomas Warsop, president and chief executive officer of ACI Worldwide. “It reinforces our unwavering commitment to innovation and excellence, putting the most cutting-edge payment solutions in the hands of our valued customers. We're not stopping here – we'll continue pushing boundaries, driving growth and delivering exceptional value to all of our key stakeholders.”
This accolade underscores ACI’s relentless dedication to delivering innovative, reliable real-time payment solutions that keep the global economy humming. From a robust product portfolio to a deep understanding of evolving customer needs, ACI remains at the forefront of shaping the future of payments. Read more