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ACI Worldwide Launches Real-Time Disbursement Services to Bill Payments PortfolioACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic payment and banking solutions, today announced the launch of ACI Disbursement Services™. Part of ACI's comprehensive UP Bill Payment solution, Disbursement Services allows businesses to send money to consumers' bank accounts in real-time using their debit card. Backed by two of the world's largest electronic payment networks, debit card disbursements use Visa Direct and Mastercard Send real-time payments platforms. According to Aite Group, 65 percent of U.S. consumers report that it is important to be able to receive instant payments from businesses or government agencies that owe them money, and 70 percent report that they would select an instant payment option for disbursements if it were available. With ACI Disbursement Services, banks, insurance companies and other organizations that offer claims, reimbursements, student refunds, rebates, payouts, and other similar payments can offer a convenient way to disburse funds to consumers and small businesses on the debit cards they already carry. In addition, it provides an easier and faster option than ACH or check disbursements as well as the option to integrate with ACH and check disbursements. "Consumers want to be paid instantly when they are owed money, and they want to choose the payment method for disbursements received," said Talie Baker, senior analyst, retail banking and payments practice, Aite Group. "In addition, convenience and speed are the most important factors U.S. consumers consider when choosing a payment method for disbursements. However, most disbursement payments take two or more days to arrive, which can lead to a poor consumer experience. Offering a solution to this growing market challenge will be important as the number of disbursements are expected to double in the next two years." "As the market moves toward digital engagement, our goal is to provide a great consumer experience," said Parker Kelley, chief financial officer, KW Specialty Insurance, a specialty insurance company that partners with he wholesale distribution channel, specializing in personal lines, commercial property and casualty, and reinsurance. "Paper checks are cumbersome and costly from an operational point of view. Moreover, it takes much longer for consumers to receive funds owed to them. ACI's solution offers businesses like ours a way to cut costs, engage our consumers with multiple digital solutions, and provide fast efficient service." "It currently takes several days to send out disbursements to consumers, which is unacceptable in a world where consumer expectations for instant and digital payments are high. This is especially true with the Gen Z population, whose biggest challenge is the speed with which they receive money," said Sanjay Gupta, executive vice president, ACI Worldwide (News - Alert). "And in a situation where a consumer may be displaced due to a natural disaster, these expectations are non-negotiable as far as the consumer is concerned. We're excited to launch ACI's Disbursement Services to help transform consumers' payment experience and reduce business costs associated with printing and mailing checks." Disbursement Services is one of the many different services that are part of ACI's UP Bill Payments solution - a comprehensive, integrated platform proven to raise customer satisfaction by 25 percent. UP Bill Payment offers a single, integrated platform that powers the entire bill payments operation, so businesses can streamline the complexities of bill presentment and payment processing to improve results while eliminating application silos. It provides a seamless consumer experience across all billing and payment channels.
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