ACI Worldwide launches instant payment service via Mastercard Send, Visa Direct

ACI Worldwide launches instant payment service via Mastercard Send, Visa Direct
Source: Mobile Payments Today

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.

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