ACI Worldwide backs EPI

ACI Worldwide is integrating the European Payments Initiative's (EPI) new digital wallet, Wero, into its global payments system. For retailers and operators, this marks a major step toward a unified alternative to big tech wallets and credit card networks across Europe. Wero is designed to handle instant account-to-account payments, which could significantly lower transaction fees compared to traditional card processing. By including Wero in a major orchestration platform like ACI, the barrier for merchants to accept this new payment method is much lower. You won't necessarily need to overhaul your entire checkout flow to offer it. While Wero is launching with person-to-person payments, it is quickly expanding into person-to-merchant functionality. This means your customers could soon pay directly from their bank accounts at your point of sale or online checkout. For your business, this translates to faster settlement times and reduced reliance on Visa and Mastercard. As digital wallets continue to eat into traditional credit usage, having access to a bank-backed European standard allows you to diversify your payment mix and potentially improve your margins on every sale.

Source: Finextra — Lending

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