Payment solution provider ACI Worldwide has teamed up with STET, a French clearing and settlement agency, to provide an end-to-end payments solution to payment services providers (PSPs) across Europe.

The collaboration facilitates immediate execution of the payments solution for SCT Inst, which enables instant fund transfers within seconds.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The white label payments platform will be offered both to PSPs directly and national ACHs.

STET plans to launch the instant payment clearing and settlement systems to the European market in November 2017 and ACI will roll out the instant payments solution for banks at the European level.

ACI Worldwide chief operating officer Craig Saks said: “Financial institutions—and their respective customers—are realising the benefits of instant payments and are eager for these capabilities to become ubiquitous within the region.

“Central infrastructures like STET are turning to ACI because they recognise our capabilities to help make their networks successful.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

STET CEO Jean-Marie Vallée said: “ACI is a leader in real-time payments solutions with its Universal Payments (UP) solution set. By leveraging this agreement, new and existing STET members will be able to connect with STET’s Instant Payments CSM quickly and cost effectively, giving broad European reachability.

“Our goal is to make real-time payments a reality for all payment service providers so they can benefit from the innovation being brought to market with SCT Inst while providing the best customer experience. Working with ACI will help us realise broad reach and faster adoption through ACI’s multiple ways to connect—via cloud or installed directly at the PSP.”

STET currently processes over 22 billion transactions per year and supports the full range of payment instruments. ACI has global customer base of financial institutions and payment service providers using its UP Immediate Payments solution.