Merchant acquirer banks using ACI Worldwide Inc. processing software will get some fresh help in managing merchant accounts and handling payment settlements.
ACI Worldwide released new versions of its ACI Acquirer and ACI Interchange software to offer support for U.S. tax requirements, enhanced interchange fee processing and extra features for merchant settlement delay and deposit reserves, the New York-based payment processor announced May 24.
In addition, ACI Interchange, the company's central monetary transaction manager for clearing card transactions, helps ensure acquiring banks and processors remain current with the latest regulatory developments in the U.S. market, the company stated in a press release.
The enhanced ACI Acquirer enables flexible pricing, transaction, service and merchant settlement options. These include improvements in taxation calculation and reporting, support for NACHA payment file formats and industry compliance mandates, the company stated.
"The U.S. remains a very competitive and dynamic merchant acquiring market, subject to a number of essential regulatory requirements and changes in operating conditions," David Morem, executive vice president of Global Products and Maintenance for ACI Worldwide, stated in the release.
In addition to ACI Acquirer and ACI Interchange, ACI's portfolio of card and merchant management solutions also includes ACI Issuer for issuing and supporting all card types, the company stated.
