The collaboration introduces ACI Speedpay Digital Disbursements, a new feature within the ACI Speedpay platform designed to facilitate digital fund transfers for businesses, aligning with shifting consumer payment preferences and regulatory developments.
According to the official press release, many businesses continue to rely on paper cheques for fund disbursement, despite growing consumer interest in digital payment methods. According to the ACI Speedpay Pulse 2024 Report, over 75% of Americans prefer digital transactions. The shift towards digital payments offers a faster way to distribute funds, which can be particularly important in scenarios such as insurance claim settlements following natural disasters.
The partnership between ACI and Ingo Payments aims to provide businesses with flexible integration options for digital disbursements. Companies will have access to Embedded Payment solutions as well as fully hosted, SaaS-based disbursement platforms. The solution supports various payment models, including real-time transactions, batch-based processing, and point-in-time disbursements.
ACI Speedpay Digital Disbursements allows businesses to offer multiple payout methods, including real-time payments, PayPal/Venmo, signature debit, and ACH transfers. By eliminating cheque-related delays, the service is expected to improve reporting and reconciliation processes, reduce administrative burdens, and support cash flow management.
Representatives from ACI Worldwide stated that the new feature is designed to simplify disbursements, allowing consumers to receive funds quickly through their preferred payment channels. Officials from Ingo Payments emphasised the importance of providing businesses with scalable digital solutions that improve transaction speed and security.
For more information about ACI Worldwide, please check out their detailed profile in our dedicated, industry-specific Company Database.
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