ACI Worldwide, a real-time payments software company, is offering PayPal and Venmo payments to federal taxpayers, according to a Tuesday (March 8) press release.
ACI will be the first vendor to offer Venmo as a payment option for taxpayers filing their federal returns, the release stated. With the expansion of mobile payment options available to include PayPal and Venmo, ACI is driving digital tax payments for the IRS, reducing costs and increasing taxpayer satisfaction.
Ninety percent of IRS electronic payments made through ACI are completed online or through a mobile browser, according to the release. In addition, IRS payments through mobile saw an 85% increase from 2021 to 2022.
“ACI provides taxpayers with more payment choices,” said ACI Worldwide Head of Biller Segment Sanjay Gupta in the release. “Since the launch of PayPal and Venmo tax payment options in 2022, we’ve already seen a shift, with more of our customers making payments through these methods.”
When selecting Venmo, taxpayers receive a QR code to scan using their Venmo app and select their preferred payment method, whether Venmo balance, credit card or debit card, the release stated. For PayPal, taxpayers are directed to their PayPal login, where they can choose their preferred payment method and complete payments.
In February, ACI launched PayAfter for merchants, which enables them to offer customers payment options that include more than 70 buy now, pay later (BNPL) lenders integrated in a single solution.
Read more: ACI PayAfter Integrates 70+ BNPL Lenders Merchants Can Offer Shoppers
The feature offers a user interface that works to increase acceptance rates and appeal to a wider global customer base that is often left behind, increasing sales and meeting shoppers’ needs.
For merchants, ACI PayAfter provides a single application and contract that streamlines the complexity and cost of integration.
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