ACI Worldwide Collaborates With Payment21 to Enable PSPs AML Compliance For Bitcoin Transactions

ACI Worldwide Collaborates With Payment21 to Enable PSPs AML Compliance For Bitcoin Transactions
22.03.2017 09:45 am

ACI Worldwide Collaborates With Payment21 to Enable PSPs AML Compliance For Bitcoin Transactions

Bitcoins , Compliance , AML and KYC

Payment21® and ACI Worldwide today announced a strategic collaboration enabling payment service providers (PSPs) to offer merchants anti-money laundering (AML)-compliant Bitcoin acceptance via ACI’s UP eCommerce Payments solution.

ACI’s network of more than 130 PSPs, serving more than 56,000 merchants, can now accept Bitcoin payments as a result.

Payment21.com is the first regulated Bitcoin payment processor with a strong focus on the compliance needs of enterprise-level businesses and the legal prerequisites of their banking partners. The award-winning Bitcoin cashier system provides AML-compliant cryptocurrency transactions, designed to meet the needs of eCommerce merchants and multinational corporations with specific regulatory requirements. This approach makes Bitcoin a viable solution for publicly-traded companies, licensed gaming enterprises, concessionary wireless network providers, and authorised investment funds.

ACI’s UP eCommerce Payments solution provides connectivity to a global network of more than 350 card acquirers and alternative payment methodsvia a single technical integration with a RESTful API. ACI’s collaboration with Payment21.com allows PSPs and merchants to quickly and easily add Bitcoin payments to their checkout pages, without additional integrations. The solution includes inbound payments and payouts in Bitcoin offering real-time settlement capabilities on a global scale, which accelerates merchant cash flow. 

"Our relationship with ACI Worldwide allows us to achieve scale by enabling AML-compliant bitcoin acceptance for more than 130 PSPs globally," added Bernhard Kaufmann, general manager, Payment21.com. “With Payment21, PSPs and merchants are able to meet Know-Your-Customer (KYC) rules in European and international jurisdictions, as the Bitcoin cashier system caters to global KYC-regulations. This, together with no chargeback risk, makes enabling Bitcoin payments an effective solution for merchants that are seeking to address traditional points of friction—including delays and costs associated with cross-border payments.”

“We have teamed up with Payment21.com so that our PSP clients will be able to offer AML-compliant bitcoin payments all without exposing their merchants to price volatility,” explained Andy McDonald, vice president, ACI Worldwide. “ACI strives to remove the complexity from payments and streamline cross-border eCommerce. The addition of Payment21.com’s cryptocurrency processing services to our network is another milestone in the ongoing expansion of our global network.”

The UP eCommerce Payments solution combines the extensive global reach of the ACI PAY.ON Payments Gateway, which provides technical connectivity to more than 350 alternative payment methods and card acquirers, with integrated ACI ReD Shield real-time fraud management.

Related News

Retail investors set to sweep up diminishing supply of Bitcoin

A report on intentional holdings of Bitcoin published today by digital assets derivatives exchange ZUBR, shows that, if current investment trends continue, daily demand will... Read more »

CoinCorner comments on rumours around a possible new Bitcoin service by PayPal

Danny Scott, CEO at CoinCorner, commented:

“Rumours have been circulating that PayPal is rolling out a service that will allow its 325 million customers... Read more »

Buy Bitcoin little and often with CoinCorner’s new Auto Buy Bitcoin service

CoinCorner, a UK Bitcoin exchange, has launched a new auto buy Bitcoin service which gives customers the opportunity to make Bitcoin purchases on a regular,... Read more »

CoinCorner launches UK first “Bitcoin Cashback” service

CoinCorner, one of the UK’s leading Bitcoin exchanges, has recently launched a new service that will reward customers with Bitcoin when they shop online.

... Read more »

Bitstocks Research Indicates Britons Bemused by Bitcoin

Bitstocks, an established UK-based Bitcoin market advisory and educational media house, has spent the last couple of weeks broadcasting bitcoin across the airwaves in an... Read more »

10th anniversary of Bitcoin Pizza Day: bitFlyer Europe reveals what the BTC price of two pizzas could have bought you since

To celebrate the 10th anniversary of Bitcoin Pizza Day – an important day in the digital currency calendar, marking the first time Bitcoin was used to purchase goods – ... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel