ACI Worldwide, Inc. released the latest version of its Acquirer multicurrency system for managing merchant accounts, histories, and settlements.

The enhanced ACI Acquirer supports U.S. taxation requirements, enhanced interchange fee processing, and expanded features for merchant settlement delay and deposit reserves.

ACI Acquirer enhancements are complemented by the launch of the newest version of ACI Interchange, the company’s central monetary transaction manager for clearing card transactions. Both solutions ensure that acquiring banks and processors remain current with the latest regulatory developments in the U.S. market. This increases customers’ ability to operate in the competitive merchant acquiring environment. ACI Issuer, ACI Acquirer, and ACI Interchange are installed at more than 70 customers in North America, Europe, and Asia, according to the company.

Financial institutions require a merchant acquiring solution that offers flexibility as its premiere feature. Some of the new features include:

•    Improved functionality for U.S. including taxation calculation and reporting, support for NACHA payment file formats and industry compliance mandates.

•    Enhancements which allow merchant acquirers to create highly differentiated merchant programs with capabilities for delayed or deferred settlement and merchant deposit reserve management.

•    Support for Discover card transaction clearing and settlement.

“The U.S. remains a very competitive and dynamic merchant acquiring market, subject to a number of essential regulatory requirements and changes in operating conditions,” says David Morem, executive vice president, Global Products and Maintenance, ACI Worldwide. “Merchant acquirers need a management solution which ensures ongoing compliance and competitive transaction price points as well as the ability to better compete in the market through overall pricing flexibility and customized settlement funding capabilities. That need is fulfilled by the latest releases of ACI Worldwide’s core merchant and card management solutions.”

 

 

[This article was posted on June 5, 2012, on the website of ABA Banking Journal, www.ababj.com.]       

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