International payments provider ACI Worldwide announced today the release of the latest version of ACI Acquirer, its comprehensive multi-currency system for managing merchant accounts, histories and settlements. The enhanced ACI Acquirer offers greater support for U.S. taxation requirements, enhanced interchange fee processing and expanded features for merchant settlement delay and deposit reserves, the company said.
ACI Acquirer enhancements are complemented by the launch of the newest version of ACI Interchange, the company's central monetary transaction manager for clearing card transactions. Both solutions are designed to ensure that acquiring banks and processors remain current with the latest regulatory developments in the U.S. market. ACI Issuer, ACI Acquirer and ACI Interchange are installed at more than 70 customers in North America, Europe and Asia.
Some of the new features include: improved functionality for the U.S. including taxation calculation and reporting, support for NACHA payment file formats and industry compliance mandates, enhancements which allow merchant acquirers to create programs with unique methods for delayed or deferred settlement and merchant deposit reserve management and support for Discover card transaction clearing and settlement.
Bryan Yurcan is associate editor for Bank Systems and Technology. He has worked in various editorial capacities for newspapers and magazines for the past 8 years. After beginning his career as a municipal and courts reporter for daily newspapers in upstate New York, Bryan has ... View Full Bio