Indian payments provider AGS Transact Technologies (AGSTTL) has tapped ACI Worldwide to unveil a range of processing solutions with fraud monitoring features within ACI’s UP Retail Payments solution.
The solution will support Unified Payments Interface (UPI) transactions in India. AGSTTL has launched the solution on a hosted basis.
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ACI Worldwide vice president Manish Patel said: “ACI is a long-standing and trusted provider of critical payments capabilities within the Indian market; expanding our relationship with AGSTTL and bringing to market our UPI-enabled UP Retail Payments solution is another milestone in delivering flexible, scalable and reliable technology as payments in India continue to reach new heights.”
The solution is exclusively designed to serve the Indian market, where according to RBI data, UPI-enabled transactions increased 4% to 151.7 million in January 2018 from 145.5 million a month ago.
AGSTTL president and group CTO Mahesh Patel said: “ACI’s Universal Payments capabilities have enabled us to integrate cross-channel payments, real-time fraud prevention and transaction management capabilities into our end-to-end payment solutions.
“Our ability to directly address the evolving needs of the Indian market – especially UPI payments – continues to be based on the outstanding cloud-based managed services that ACI delivers.”
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By GlobalData
