Sunday, April 21, 2019

Canara Bank First to Market in India with EMV Acquiring & Aadhaar Authentication Powered by ACI Worldwide

BWW News Desk
April 16, 2019

a referrerpolicyunsafeurl targetblank hrefhttpsctsbusinesswirecomctCTidsmartlinkampurlhttps3A2F2Fwwwaciworldwidecom2Fampesheet51968700ampnewsitemid20190415005042amplanenUSampanchorACIWorldwideampindex1ampmd58eede0ce80d850de28196f1e0017458b relnofollowACI WorldwideaNASDAQACIW a leading global provider of realtimea referrerpolicyunsafeurl targetblank hrefhttpsctsbusinesswirecomctCTidsmartlinkampurlhttps3A2F2Fwwwaciworldwidecom2Faboutaciampesheet51968700ampnewsitemid20190415005042amplanenUSampanchorelectronicpaymentandbankingsolutionsampindex2ampmd5828ca6059eef829ffe5935d192e79025 relnofollowelectronic payment and banking solutionsa today announced that Canara Bank has successfully rolled out major new functionality to support EMV card acquiring across its ATM network and Aadhaar Authentication leveraging ACIs a referrerpolicyunsafeurl targetblank hrefhttpsctsbusinesswirecomctCTidsmartlinkampurlhttps3A2F2Fwwwaciworldwidecom2Fsolutions2Fupretailpaymentsampesheet51968700ampnewsitemid20190415005042amplanenUSampanchorUPRetailPaymentssolutionampindex3ampmd55a8e05ee71fd8a8f7ead664fbbf70de5 relnofollowUP Retail Payments solutiona to achieve market firsts pblockquotep idpullquotepblockquote p Canara Bank one of Indias largest public sector banks with nearly 6300 branches and a network of more than 10000 ATMs is the first public sector bank to shift to EMV chip and PIN for card present transactions across the countrys vast ATM network The EMV shift as in other major global markets is aimed at reducing lost and stolen card fraud and making counterfeit card fraud more difficult The Reserve Bank of India RBI had set a deadline of December 31 2018 for the switch mandating use of an embedded chip to replace the traditional magnetic stripe card p p The bank has tapped into the extensive functionality of ACIs UP Retail Payments solution which they have been relying upon as their core payments processing engine for 12 years to be the first public sector bank in India to meet RBIs EMV mandate This is a major achievement for the bank as it offers its retail banking customers improved authentication for cardpresent transactions at the ATM thus ensuring even greater security and risk mitigation In addition functionality developed by ACI and Canara Bank also speeds up the process of Aadhaar number linking which eases KYC compliance at the banks branches p p ACI has played a central role in driving EMV rollouts across numerous countries over the years That coupled with our long and extensive footprint within India enables us to effectively drive key initiatives for innovative banks like Canara Bank a longtime ACI customer said Kaushik Roy Vice President South Asia ACI Worldwide Canara Banks successful rollout of EMV acquiring across its ATM network and its implementation of biometric ID based on the 12digit Aadhaar number demonstrates that even the largest public sector companies can adopt a more agile approach and benefit from working with vendors such as ACI which offer flexible scalable payments technology p p ACIs a referrerpolicyunsafeurl targetblank hrefhttpsctsbusinesswirecomctCTidsmartlinkampurlhttps3A2F2Fwwwaciworldwidecom2Fsolutions2Fupretailpaymentsampesheet51968700ampnewsitemid20190415005042amplanenUSampanchorUPRetailPaymentssolutionampindex4ampmd5c23b0359d7915f01d4365354cb3ed648 relnofollowUP Retail Payments solutiona based on the Universal Payments UP Framework and built on open serviceoriented architecture for robust payments orchestration supports core payment processing with 24x7 secure payment capabilities ACIs solution also enables Indian financial institutions to access APIs developed by the National Payments Corporation of Indias NPCI UPI initiative which connect banks issuing systems to central infrastructures and payment service providers PSPs p p bAbout ACI Worldwideb p p ACI Worldwide thea referrerpolicyunsafeurl targetblank hrefhttpsctsbusinesswirecomctCTidsmartlinkampurlhttps3A2F2Fwwwaciworldwidecom2Fsolutions2Funiversalpaymentsampesheet51968700ampnewsitemid20190415005042amplanenUSampanchorUniversalPaymentsampindex5ampmd5abae710605704abb086591412dbae43a relnofollowUniversal PaymentsaUP company powersa referrerpolicyunsafeurl targetblank hrefhttpsctsbusinesswirecomctCTidsmartlinkampurlhttps3A2F2Fwwwaciworldwidecom2Faboutaciampesheet51968700ampnewsitemid20190415005042amplanenUSampanchorelectronicpaymentsampindex6ampmd55deba6f1b7ba915085be6c52d6c735fa relnofollowelectronic paymentsafor more than 5100 organizations around the world More than 1000 of the largest financial institutions and intermediaries as well as thousands of global merchants rely on ACI to execute 14 trillion each day in payments and securities In addition myriad organizations utilize oura referrerpolicyunsafeurl targetblank hrefhttpsctsbusinesswirecomctCTidsmartlinkampurlhttps3A2F2Fwwwaciworldwidecom2Fproducts2Febppservicesampesheet51968700ampnewsitemid20190415005042amplanenUSampanchorelectronicbillpresentmentandpaymentampindex7ampmd5fc09ec8ade7d351f598f53b3d2df4473 relnofollowelectronic bill presentment and paymentaservices Through our comprehensive suite of software solutions delivered on customers premises or through ACIsa referrerpolicyunsafeurl targetblank hrefhttpsctsbusinesswirecomctCTidsmartlinkampurlhttps3A2F2Fwwwaciworldwidecom2Fcapabilities2Fclouddeliveryampesheet51968700ampnewsitemid20190415005042amplanenUSampanchorprivatecloudampindex8ampmd544c34397e6fc7ad5b0a20ec7c43eda0d relnofollowprivate clouda we provide realtimea referrerpolicyunsafeurl targetblank hrefhttpsctsbusinesswirecomctCTidsmartlinkampurlhttps3A2F2Fwwwaciworldwidecom2Fsolutions2Fupimmediatepaymentsampesheet51968700ampnewsitemid20190415005042amplanenUSampanchorimmediatepaymentsampindex9ampmd51b66bbc02af7fe6e3c4d9a336642989d relnofollowimmediate paymentsacapabilities and enable the industrys most completea referrerpolicyunsafeurl targetblank hrefhttpsctsbusinesswirecomctCTidsmartlinkampurlhttps3A2F2Fwwwaciworldwidecom2Fcapabilities2Fomnichannelpaymentsampesheet51968700ampnewsitemid20190415005042amplanenUSampanchoromnichannelpaymentsampindex10ampmd581fd4eb2195a3855d5e2cce1715affee relnofollowomnichannel paymentsaexperience To learn more about ACI please visita referrerpolicyunsafeurl targetblank hrefhttpsctsbusinesswirecomctCTidsmartlinkampurlhttps3A2F2Fwwwaciworldwidecom2Fampesheet51968700ampnewsitemid20190415005042amplanenUSampanchorwwwaciworldwidecomampindex11ampmd59d0ed63cfa5621ea5377342dbbd218e9 relnofollowwwwaciworldwidecoma You can also find us on Twittera referrerpolicyunsafeurl targetblank hrefhttpsctsbusinesswirecomctCTidsmartlinkampurlhttps3A2F2Ftwittercom2Faciworldwideampesheet51968700ampnewsitemid20190415005042amplanenUSampanchor40ACIWorldwideampindex12ampmd50dffff62ed5a077b9f9a7e6e12f01c2b relnofollowACIWorldwidea p p Copyright ACI Worldwide Inc 2019 p p ACI ACI Worldwide the ACI logo ACI Universal Payments UP the UP logo and all ACI productsolution names are trademarks or registered trademarks of ACI Worldwide Inc or one of its subsidiaries in the United States other countries or both Other parties trademarks referenced are the property of their respective owners p p Product roadmaps are for informational purposes only and may not be incorporated into a contract or agreement The development release and timing of future product releases remains at ACIs sole discretion ACI is providing the following information in accordance with ACIs standard product communication policies Any resulting features functionality and enhancements or timing of release of such features functionality and enhancements are at the sole discretion of ACI and may be modified without notice All product roadmap or other similar information does not represent a commitment to deliver any material code or functionality and should not be relied upon in making a purchasing decision p pimg referrerpolicyunsafeurl alt srchttpsctsbusinesswirecomctCTidbwnewsampsty20190415005042r1ampsidweb02ampdistronxamplangen stylewidth0height0span classbwct31415p

SOURCE: BUSINESS WIRE. ©2015 Business Wire

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