NEW YORK, Oct. 20, 2010 (GLOBE NEWSWIRE) -- ACI Worldwide (Nasdaq:ACIW), a leading international provider of payment systems, today announced that it has joined the International Payments Framework Association (IPFA).
Launched in February 2010 by a group of 21 banks, clearing houses and associated payment service providers, the IPFA has as its prime purpose the provision of business rules, standards and operating procedures to improve non-urgent cross-border credit transfers. This new association is creating a contractual framework, based on the ISO 20022 message standard, which will bind the members to those operating rules.
Louis Blatt, chief product officer at ACI Worldwide, said: "As a leading global vendor of payment systems, ACI fully supports this initiative to simplify the processing of international credit transfers by leveraging existing payment networks and the ISO 20022 standard. We look forward to helping shape this new organization and develop its rules, and then working with our customers to implement any resultant standards."
Arthur Cousins CEO of the IPFA, said, "We are delighted to welcome ACI Worldwide into the Association. ACI shares our aim of improving cross-border payments, and its experience, focus and product set will greatly assist banking clients with regard to the IPFA operational and technical requirements in order to be operational."
For more information about ACI's payments solutions please visit www.aciworldwide.com.
About ACI Worldwide
ACI Worldwide powers electronic payments for more than 750 financial institutions, retailers and processors around the world. The company has the broadest, most integrated suite of electronic payment software in the market. More than 75 billion times each year, ACI's solutions process consumer payments. On an average day, ACI software manages more than US$12 trillion in wholesale payments. And for more than 150 organizations worldwide, ACI software helps to protect their customers from financial crime. To learn more about ACI and understand why we are trusted globally, please visit www.aciworldwide.com. You can also find us on www.paymentsinsights.com or on Twitter @ACI_Worldwide.
About IPFA
The International Payments Framework Association (IPFA) is a membership-driven, not-for-profit organization that provides rules, standards, operating procedures, and guidelines to improve cross-border payments. For more information on the IPFA please visit http://internationalpaymentsframework.org.