ACI Worldwide launches ACI Instant Pay for merchants in Europe, U.K.

ACI Worldwide announced it has launched ACI Instant Pay – a real-time payments solution that enables merchants to accept instant online, mobile and in-store payments via a simple API integration with ACI Payments Orchestration Platform – in Europe and the U.K. The move comes against the backdrop of a regulatory push in Europe. Banks across the Eurozone must comply with a proposed European Commission law, mandating financial institutions across the Single Euro Payments Area countries to offer instant payments under the SEPA Instant Credit Transfer scheme, at the same cost or lower-than-standard credit transfers. The new regulation is aimed at unlocking the benefits of instant payments for European economies.