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Online Payments

ACI Worldwide selected by Co-operative Group to bring wallet service to customers

Monday 27 February 2017 | 10:03 AM CET

ACI Worldwide, a global provider of real-time e-payment and banking solutions, has been selected by The Co-operative Group (Co-op), a convenience food retailers in UK, to run a wallet service.

The new membership scheme, launched in 2016, enables Co-op members to save and spend cash earned on own-brand purchases and also see their purchases support local charities of their choice. Co-op had announced that more than 5 million members would receive new membership cards and enjoy these benefits. It also noted that trials of these benefits had led to significant increases in transactions, turnover and the frequency of visits, along with a substantial jump in the sale of Co-op branded products.

In addition, ACI has started the production roll-out of its Point-2-Point Encryption (P2PE) card payments service across all Co-op UK food stores and fuel sites. P2PE is an emerging encryption technique that protects cardholder data by converting a consumer’s confidential credit and debit card data into indecipherable codes when the card is read by the payment terminal. It will help to increase data security across all of Co-op’s UK food stores and fuel sites.

ACI will run all services for Co-op from its European data centre. Demand for ACI’s cloud-based payment solutions has grown, and ACI opened a new data centre in Limerick, Ireland in 2016.

For more information about ACI Worldwide, please check out a detailed profile of this company in our dedicated, industry-specific online company database.

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