Payment 21, ACI Worldwide Team for Bitcoin

Announcements, Blockchain, FinTech, News | March 27, 2017 By:

Swiss alternative payment networks specialist Payment21 and payments provider ACI Worldwide have a new collaboration that allows global payment service providers (PSPs) to offer bitcoin.

ACI’s network of more than 130 PSPs serving 56,000 merchants will go online with the new service. The solution includes inbound payments and payouts in bitcoin. The service offers real-time settlement capabilities on a global scale, accelerating merchant cash flow, the companies said in a statement.

“Our relationship with ACI Worldwide allows us to achieve scale by enabling AML-compliant bitcoin acceptance for more than 130 PSPs globally,” said Payment21 general manager Bernhard Kaufmann. “With Payment21, PSPs and merchants are able to meet Know-Your-Customer (KYC) rules in European and international jurisdictions, as the Bitcoin cashier system caters to global KYC-regulations. This, together with no chargeback risk, makes enabling Bitcoin payments an effective solution for merchants that are seeking to address traditional points of friction—including delays and costs associated with cross-border payments.”

“We have teamed up with Payment21 so that our PSP clients will be able to offer AML-compliant bitcoin payments all without exposing their merchants to price volatility,” said ACI Worldwide vice president Andy McDonald. “ACI strives to remove the complexity from payments and streamline cross-border eCommerce. The addition of Payment21’s cryptocurrency processing services to our network is another milestone in the ongoing expansion of our global network.”

Payment21 is the first regulated bitcoin payment processor, focusing on the compliance needs of enterprise-level businesses and the legal prerequisites of their banking partners. ACI’s UP eCommerce Payments solution provides connectivity to a global network of more than 350 card acquirers and alternative payments methods via a single technical integration with a representational state transfer (RESTful) application programming interface (API)