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Payment21, ACI Worldwide enter strategic collaboration for AML compliant bitcoin payments

Payment21 that enables merchants to accept AML-compliant cryptocurrency transactions online, and universal payments company ACI Worldwide, have announced a strategic collaboration that enables payment service providers (PSPs) to offer merchants with Anti-Money Laundering (AML) compliant bitcoin payments, globally.

With the announcement, over 130 PSPs and 56,000 merchants can now accept Bitcoin payments, meeting the need for AML compliance. The bitcoin payments are accepted via ACI’s UP eCommerce Payments solution.

Payment21 is an award-winning bitcoin cashier system that gives AML-compliant cryptocurrency transactions, designed to meet the needs of eCommerce merchants and multinational corporations with specific regulatory requirements.

“Our relationship with ACI Worldwide allows us to achieve scale by enabling AML-compliant bitcoin acceptance for more than 130 PSPs globally,” Bernhard Kaufmann, general manager, Payment21.com, said. “With Payment21, PSPs and merchants are able to meet Know-Your-Customer (KYC) rules in European and international jurisdictions, as the Bitcoin cashier system caters to global KYC-regulations. This, together with no chargeback risk, makes enabling Bitcoin payments an effective solution for merchants that are seeking to address traditional points of friction—including delays and costs associated with cross-border payments.”

The UP eCommerce Payments solution of ACI offers connectivity to a global network of over 350 card acquirers and alternative payment methods through a single technical integration with a RESTful API. The collaboration between ACI and Payment21 allows PSPs and merchants to quickly and easily add Bitcoin payments to their checkout pages, without additional integrations. Also, the solution includes bitcoin inbound payments and payouts and offers real-time settlement capabilities on a global scale.

UP eCommerce Payments solution joins extensive global reach of the ACI pay on Payments Gateway. This provides technical connectivity to more than 350 alternative payment methods and card acquirers, with integrated ACI ReD Shield real-time fraud management.

“We have teamed up with Payment21.com so that our PSP clients will be able to offer AML-compliant bitcoin payments all without exposing their merchants to price volatility. ACI strives to remove the complexity from payments and streamline cross-border eCommerce. The addition of Payment21.com’s cryptocurrency processing services to our network is another milestone in the ongoing expansion of our global network,” Andy McDonald, vice president, ACI Worldwide, stated.

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