Dutch lender Rabobank has achieved the final milestone in rolling out the instant payment service in the country using ACI’s UP Immediate Payments solution.
The lender completed the roll out in five months after the launch of the Dutch SEPA Instant Payments programme in April.
The Dutch SEPA Instant Payments programme involves immediate processing of online and payments. The service, available to all participating banks’ customers, allows instant remittances and receipts around the clock.
Rabobank further plans to expand its instant payments services with additional features. Apart from UP Immediate Payments, the bank uses several ACI solutions including ACI Issuer, UP Retail Payments solution including UP BASE24-eps and ACI Interchange.
ACI Worldwide head of Real-Time Payments Craig Ramsey said: “The success of the Instant Payments programme demonstrates the innovation being driven from the Dutch banks, which themselves epitomise collaboration.
“ACI has a long track record of success across the globe powering real-time and immediate payments schemes.
“We’re proud to work with great customer partners like Rabobank to play a role in making instant payments the future of payments in The Netherlands.”
Currently, ACI supports instant payments in more than ten countries.
Recently, Canadian payment solutions provider Everlink Payment Services entered into a collaboration with ACI Worldwide.
The collaboration is aimed to bolster Everlink’s eSCORE solution, a fraud management platform.