Co-op Selects ACI Worldwide to Power Wallet Service for its New Membership Scheme
UK convenience food retailer uses ACI's UP Merchant Payments solution to secure payments data for its customers
LONDON, UNITED KINGDOM--(Marketwired - February 27, 2017) - ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic payment and banking solutions , today announced that The Co-operative Group (Co-op), one of the UK's largest convenience food retailers with more than 2,800 stores and fuel sites across the UK, has selected the company to run a cloud-based wallet service for its recently announced membership scheme.
The new membership scheme, which was launched last year, 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 enhanced 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.
"ACI is delighted to partner with Co-op on this new and innovative scheme. The Co-op, which has a store in every postal district in the UK, will be rewarding its members with a range of new benefits and services, some of which will directly support local charities and help them to better connect to the local community," said Andrew Quartermaine, vice president, ACI Worldwide. "ACI's UP Merchant Payments solution has the breadth and flexibility to support and integrate new services that go beyond traditional payments."
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 considerably 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 considerably, and in response, ACI opened a new state-of-the art data centre in Limerick, Ireland last year.
ACI's cloud-based UP payments solutions offer customers the highest levels of reliability, security and data privacy. They also have the flexibility to support new requirements should customers' needs change over time.
About ACI Worldwide
ACI Worldwide, the Universal Payments (UP) company, powers electronic payments for more than 5,100 organizations around the world. More than 1,000 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 our electronic bill presentment and payment services. Through our comprehensive suite of software and SaaS-based solutions , we deliver real-time, immediate payments capabilities and enable the industry's most complete omni-channel payments experience. To learn more about ACI, please visit www.aciworldwide.com . You can also find us on Twitter @ACI_Worldwide .
Â© Copyright ACI Worldwide, Inc. 2017.
ACI, ACI Worldwide, ACI Payment Systems, the ACI logo and all ACI product 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.
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 ACI's sole discretion. ACI is providing the following information in accordance with ACI's 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.
ACI Worldwide Corporate Communications
Phone: 0044 (0)7776 147 910
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