The new services enable banks and financial intermediaries to add a range of real-time digital overlay services to support a high-volume, data-rich digital payments ecosystem for consumer, corporate and merchant customers. Digital overlay services deliver white-label mobile apps and web portals, plug-ins, APIs and SDKs for digital and social media channels on top of real-time payments infrastructure, which help banks and financial intermediaries to keep pace with evolving customer demands.

Additional benefits provided to organizations:

• Seamless end-to-end solution for contactless and secure QR code payments, including merchant-initiated payments using dynamic QR codes
• Integrated end-to-end bill payment solution for banks and financial institutions globally with self-service portals and onboarding processes
• Simplified integration for merchant mobile applications, including support for Request to Pay (RtP)
• Flexible person-to-person (P2P) payment services based on proxy/alias (i.e., phone number or email) for added security

“The global real-time payments landscape continues to evolve rapidly, with enhanced customer experience sitting at the heart of this transformation, aided by regulatory mandates and new technologies. Today’s consumers increasingly expect a seamless payment experience across multiple channels — whether it’s through social media, physical point-of-sale or eCommerce,” said Craig Ramsey, head of real-time payments, ACI Worldwide. “Together with our strategic partner Mindgate, we are ensuring that banks and their customers are real-time ready.”

“ACI is a real-time payments pioneer, with a successful track record of working with leading financial institutions around the world,” said George Sam, co-founder, Mindgate Solutions. “We’re excited to extend our collaboration with ACI to bring market-proven, pre-integrated, innovative digital overlay services to ACI’s growing customer base around the world, helping drive digital payments adoption.”

“The COVID-19 pandemic and resulting economic impacts will likely lead to long-term behavioral changes, and businesses need to adapt their strategies accordingly,” continued Ramsey. “We recently surveyed global payments experts, 36 percent of whom had seen an increase in digital transaction volumes over the last few months, and almost half (47%) had seen a shift of transactions across digital channels. This reinforces the rising interest in real-time payments and digital overlay services across the globe — a trend we expect to continue.”

Digital overlay services are expected to be a particular area of focus in those markets that experience high real-time payments growth, as highlighted in ACI and GlobalData’s new Prime Time for Real-Time report.