Sales League Table 2020 | Banking Technology Winners

Results Announced!

Stay up-to-date with the latest industry news and analysis.

Subscribe to BankTech Daily News today. Limited time offer.

The Black Swan Opportunity | Get your bank digital ready.

IBSI Special 5 Digital Report Package with Special Offer. Subscribe now

Core Banking Market Dynamics Report 2020

Global analysis of core banking system sales. Subscribe now

Egyptian Banks Company to launch national payments scheme with ACI

Mandy Killam, executive VP & growth markets leader, ACI Worldwide

ACI Worldwide has announced that Egyptian Banks Company (EBC) has implemented the latest version of ACI’s UP Retail Payments solution in a bid to utilize ACI’s UP BASE24- eps for launching Egypt’s national payment scheme. The updated solution provides EBC with a foundation for the development of new payment services.

ACI’s UP Retail Payments Solution aims to enable institutions in the authorization and authentication of payments from multiple channels.

“ACI has delivered robust and reliable core payment processing for our nationwide ATM scheme for many years,” said Tarek Raouf, Chairman & CEO, Egyptian Banks Company. “As we expand the range of services that we offer – including support for point-of-sale and eCommerce transactions – we need payments technology that offers broad functionality and can adapt quickly to changing market conditions. Because the proven reliability of ACI’s solution is complemented with easily configurable modules, EBC is in a strong position to drive the longer-term trend toward a cashless society.”

EBC acts as the central domestic infrastructure for payments in Egypt and connects 38 member banks with an aim to increase financial inclusion in Egypt through the adoption of digital infrastructure. EBC has been ACI’s customer for around 20 years.

“EBC has relied upon the stability and scalability of our enterprise-class payments solution for more than two decades – the successful transition to UP BASE24-eps opens up new opportunities through access to flexible modules and the full portfolio of ACI’s UP solutions,” said Mandy Killam, executive vice president & growth markets leader, ACI Worldwide. “We’re excited to enter this next phase of cooperation with EBC, which promises significant growth in payments volume as the shift to cashless payments gathers pace.”

Recently, ACI Worldwide has announced the launch of its ACI Disbursement Services, a solution which aims to allow businesses to send money to consumers’ bank accounts in real-time.

Related IBS Intelligence Research

Related Posts

cred.ai emerges from stealth mode & launches technology-powered Metal Card

cred.ai, a Philadelphia-based FinTech company, has announced its emergence from stealth mode to debut technology-powered Metal Card, a consumer spending product that leverages proprietary technology to give users controls, convenience, and automatic credit score optimization. With cred.ai Guaranty, customers do not have to pay fees or interest. They will also receive a premium brand experience […]

This post is only available to members.

Read More »

Cloud9 Technologies teams up with comitFS to boost real-time voice trading APIs

Cloud-based communications provider Cloud9 Technologies has teamed up with comitFS, a UK-based provider of voice middleware and API abstraction capabilities for financial services companies. The collaboration will facilitate the development of real-time call control capabilities for voice trading within the institutional marketplace. “As trading dynamics shift to a more digitally-driven environment, firms want the peace […]

This post is only available to members.

Read More »

Quantum Group acquires mobile cashback app Tail

London-based FinTech incubator Quantum Group today announced the acquisition of mobile cashback app Tail. The acquisition is expected to enable Quantum Group to increase the number of banking partners integrated with Tail and to onboard different retailers from around the UK. Tail’s platform enables retailers to create hyperlocal marketing campaigns, thus allowing them to increase […]

This post is only available to members.

Read More »