ACI Worldwide delivers tech transformation for Utkarsh Small Finance Bank in India

Tuesday 23 October 2018 07:34 CET | News

ACI Worldwide, a global provider of real-time electronic payment and banking solutions, has announced the transition of Utkarsh Small Finance Bank to the latest version of its UP Retail Payments solution.

The milestone was achieved through ACI’s partnership with AGS Transact Technologies (AGSTTL), one of India’s end-to-end payment solutions providers.

ACIs UP Retail Payments solution, featuring UP BASE24-eps, is payments solution that enables institutions to acquire, authenticate and authorize, route and protect card and digital payments from multiple channels. ACI’s UP solutions are relied upon by 18 of the world’s banks and used in 59 countries, and the global payments company has a proven track record in the Indian market. As the pace of payments transformation has gathered pace in India, The ACI and AGSTTL partnership has paved the way for AGSTTL to offer the solution via a hosted model, compliant with the recent RBI (Reserve Bank of India) mandate regarding storing of data within India.

Utkarsh Small Finance Bank – by transitioning to the latest iteration of ACI’s solution – can process conventional as well as multiple new transaction types through UP Retail Payments. Utkarsh will also be in a position to access the set of APIs developed by the National Payments Corporation of India’s (NPCI) UPI initiative, which connect banks’ issuing systems to central infrastructures and payment service providers (PSPs).

For more information about ACI Worldwide, please check out a detailed profile of this company in our dedicated, industry-specific online company database.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: ACI Worldwide, Utkarsh Small Finance Bank, India, payments, banking, UP Retail Payments, AGS Transact Technologies
Countries: World