Customers Prepare for Interac Initiative via ACI’s EMV-Compliant Software
(Omaha, Neb. – 13 April 2005) – ACI Worldwide (Nasdaq: TSAI), a leading international provider of enterprise payment solutions, has responded to the recent decision by Interac Association, Canada’s national payment network, to have a Canadian chip card infrastructure in place within two years by confirming that two Canadian customers have already licensed EMV-compliant software from ACI.
Interac has announced an aggressive plan to offer shared services using chip cards with a target of early 2007 for the first chip transaction. ACI Canada has worked closely with Interac on developing EMV debit specifications and achieving full support of the specifications within ACI’s core BASE24 solutions.
"Chip card solutions are a natural extension of our payments processing footprint," said Mark Vipond, president of ACI Worldwide. "Interac’s migration to chip card technology represents a significant investment, and our products will enable Canadian financial institutions to take advantage of this investment with proven, low-risk technology."
ACI provides application software and technical consultancy based on its extensive experience with EMV solutions around the world. The range of ACI’s EMV-enabled software supports transactions initiated at multiple delivery channels, from ATMs and point-of-sale devices to wireless telephones and PCs connected to the Internet. ACI has added new features to its BASE24 and BASE24-es™ payment solutions to support the processing of EMV authentication and maximise its customers’ existing payments infrastructure. These products, along with the ACI Card Management System™ and ACI Smart Chip Manager™, support the issuance and management of both magnetic stripe and chip cards, easing the migration to full EMV support.
"ACI's experience with other EMV initiatives provides our Canadian customers the opportunity to leap ahead of the curve in supporting EMV transactions," said David Grindal, director of sales support and marketing at ACI Canada. "Our BASE24 products support the EMV specifications for both the Canadian debit and credit markets, and our value-added products help customers manage the issuance of chip cards. We offer proven solutions to help customers fully participate in the Interac initiative."