ACI Worldwide Launches New Solution for Low-Value Cross-Border Payments

ACI Worldwide has launched a new solution for sending low-value cross-border, real-time payments.

The provider of real-time payments software has added Swift Go to its cross-border payments offering, enabling financial institutions to allow consumers and small- to medium-sized businesses (SMBs) to send cross-border payments directly from their bank account, ACI Worldwide said in a Monday (May 22) press release.

“Seamless and instant cross-border payments, whether high- or low-value, are increasingly becoming the norm for our customers,” ACI Worldwide Head of Real-Time Payments Craig Ramsey said in the release. “Leveraging Swift Go will enable banks to improve the customer experience and stay competitive in the growing cross-border payments market.”

Swift Go, which is Swift’s new standard in low-value international payments, is the latest Swift solution to be added to the ACI Enterprise Payments Platform, which enables banks to add emerging and alternative payment methods, according to the release.

It joins other Swift gpi services that ACI Worldwide already offers to facilitate global payments, including gpi Customer Credit Transfers, ACI gpi Data Service and Universal Confirmations, the release said.

“Swift Go gives consumers and small businesses the peace of mind they have been looking for when sending money internationally, through transparency in fees and predictability in speed,” Swift Head of Swift Go Tanja Haase said in the release. “We are pleased to be able to continue working with ACI Worldwide to extend these benefits to more banks and their customers.”

Launched in 2021, Swift Go makes it easier for SMBs and individual peer-to-peer (P2P) senders to move money across borders.

The service enables faster international payments with upfront fee visibility through the use of “tighter service level agreements between institutions and pre-validation of data,” Swift said at the time of the launch.

ACI Worldwide reported in March that it is seeing steady growth as the real-time payments revolution accelerates.

The company’s management said during a quarterly earnings call in March that real-time payments represent about 10% of ACI Worldwide’s business and are growing by double-digit percentage points.

In addition, the company already supports more than two dozen real-time payments plans around the globe.

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