The first service offered is DuitNow, an instant credit transfer with a national addressing database that links mobile numbers and national ID numbers to account numbers. The service allows bank customers to send money instantly to accounts that are addressed by easily known identifiers, such as mobile phone numbers, identity card or passport numbers, and business registration numbers.
Following the launch of DuitNow, the two companies are currently focusing on the introduction of new payments services, including QR payments, request-to-pay, e-mandates and real-time debit in the country.
ACI has a global customer base of financial institutions and payment service providers using its UP Immediate Payments solution. In the UK, the solution has been used by financial institutions to access the UK Faster Payments scheme since its launch in 2008. Currently, more than 50% of the scheme’s payments are being processed by ACI solutions. For more information about ACI Worldwide, please check out a detailed profile of this company in our dedicated, industry-specific online company database.
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