ACI Worldwide (NASDAQ: ACIW), an international provider of real-time digital payment software, has announced a partnership with KyckGlobal, a virtual payments company, in order to improve digital disbursements for biller organizations across the US, offering a wide array of options including global and cash payments.
KyckGlobal features a Cloud-powered payments engine with an array of payment types “from which the recipient may select.”
The announcement also mentioned that these include PayPal, Venmo, ACH, wires, gift cards, push to card, cash and others. All available payment types “originate from a single point of funding and reconciliation,” the update explained.
Access to various payment flavors allows businesses to “reach banked and underbanked customers in the U.S. and around the world.”
The update further noted that US-headquartered businesses with a global reach can “eliminate disbursement delays, and payees in underbanked countries can receive cash securely in their local currency.”
Ashish Bahl, Founder and CEO of KyckGlobal, remarked:
“KyckGlobal’s goal is to ensure businesses sending payments, such as refunds from higher educational institutions and insurance claim payments, can do so in a streamlined capacity while providing speed and choice to the consumer. ACI’s vast experience in the bill pay space positions them as a primary partner in helping us achieve that goal.”
Sanjay Gupta, Head of Biller Segment, ACI Worldwide, added:
“ACI continues to evolve its digital disbursement capabilities, and the partnership with KyckGlobal further strengthens our ability to meet consumers’ needs—enabling them to receive funds quickly, conveniently and through methods that they most prefer. Insurance companies are a great example of businesses that need to send payments to their customers quickly. And we look forward to offering these advanced disbursement capabilities with customer choice to all the industry verticals that we serve.”
ACI Speedpay is an integrated suite of bill presentment and payment services that “empowers the success of thousands of customers across multiple verticals, including Consumer Finance, Government, Education, Healthcare, Insurance, Telco and Cable, Subscriptions, and Utilities.”
The mobile wallet billing and payment capability “improves the consumer experience while reducing costs,” the announcement noted.