According to the press release, ACI Issuer is a configurable card management system that supports any type of payment and offers advanced analytics, reporting, and loyalty management. To address the financial challenges resulting from the COVID-19 crisis, ACI Issuer provides a series of capabilities – Installment Pay Option, Payments Holiday, Credit Card Expiry Bypass and Virtual Cards – to enable banks to respond to market demands and regulations.
Installment Pay Option enables banks to offer customers a payment instalment plan for one-time purchases. Banks can set up a repayment schedule based on a consumer or business request, preventing delinquencies because of temporary cash management issues.
Payments Holiday enables banks to temporarily hold interest or penalties by offering a blanket or partial “payments holiday.”
Credit Card Expiry Bypass allows the configuration of ACI Issuer to bypass the expiry date check for certain transaction types so that customers can still access their cash and make payments.
Virtual Cards capacitates banks to allow business customers to issue virtual cards (that are only available via a mobile wallet) to help employees, for example with grocery shopping.
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