ACI Worldwide completes certification for FedNow service

By Delisha Fernandes

ACI Worldwide, a real-time payment solution, announced that it is among the first in the payments industry to complete testing and certification for the FedNow Service, the Federal Reserve’s new instant payments offering.

“Our early certification is a testament to our years of investment in our platform and real-time payment solutions globally. We look forward to working closely with Corporate One and future partners to process real-time payments through FedNow and the ACI Real-Time Payments Cloud solution,” said Craig Ramsey, Global head of real-time payments ACI Worldwide.

“We have engaged closely with the US Federal Reserve in the development of FedNow since the service’s inception, and we are honoured that the Federal Reserve has designated ACI Worldwide as a FedNow Instant Payment Pioneer.”

Partnering with ACI Worldwide will enable Corporate One, one of the largest corporate credit unions in the United States and a leader in real-time payments within the credit union industry, to extend its immediate payments solutions to the FedNow Service, bringing secure, protected instant payments integration to its substantial community of credit union members and partners.

“Corporate One sees our partnership with ACI Worldwide as instrumental in expanding our immediate payments expertise and capabilities to include the FedNow Service,” said Melissa Ashley, President and CEO Corporate One. “We have worked together on solutions for the RTP network and as FedNow pilot participants, and we are confident that ACI will bring unmatched experience to ensuring Corporate One and our credit union members will benefit early from FedNow.”

In partnership with Microsoft, ACI Worldwide will operate the FedNow Service on its new, fully cloud-native service, the ACI Real-Time Payments Cloud, a multi-tenant SaaS platform in Microsoft Azure, supporting connectivity to both The Clearing House Real-Time Payments network and FedNow.