Through a single API integration with the ACI payments orchestration platform, merchants using Instant Pay will be able to accept instant online, mobile and in-store payments.
ACI says payments will reach merchants’ accounts instantly with no settlement delays or chargebacks and without incurring interchange fees, helping them reduce operational costs and reduce the risk of fraud.
The launch comes against the backdrop of regulatory changes in Europe and the UK, with Europe mandating Single Euro Payments Area (SEPA) countries to offer instant payments, and the UK embarking on the modernisation of its Faster Payments scheme.
