Following the announcement, Transbank will be able to offer differentiated services to businesses and to better comply with local card scheme mandates. Founded as a credit card processing intermediary in Chile, Transbank has influenced the development of digital payments in this space for almost 30 years.
According to the press release, the company’s backend processing system was due for an upgrade and at the same time the Chilean government regulations pushed to open the country’s acquiring business, allowing new players to enter the market. To comply with local card scheme mandates, Transbank chose to update its system with ACI’s UP Retail Payments solution. In addition, the organisation is able to support more than 300,000 businesses that are configured into its system, processing volumes of five million transactions per day.
In the future, Transbank will also benefit from ACI’s UP Payments Risk Management solution, which will help bolster security through a combination of machine learning, advanced analytics, and fraud and payments data.
For more information about ACI Worldwide, the global provider of real-time electronic payment and banking solutions, please check out a detailed profile of this company in our dedicated, industry-specific online company database.
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