Naples, Florida; London/UK, April 12, 2017 (GLOBE NEWSWIRE) -- The majority of small and medium-sized (SMEs) business owners in
the US and Europe would consider switching account providers for the offer of real-time payments, according to an online poll by
YouGov conducted on behalf of ACI Worldwide.* Two-thirds (65%) of US SME businesses stated that if banks offered real-time
payments capabilities, it would ‘encourage’ them to switch providers. 90 percent of respondents in Italy, 75 percent in
France and 58 percent in Germany also said the offer of faster electronic payments would be a reason for them to switch banks.
The research reveals the extent to which SMEs in the US and Europe are willing to embrace new payment methods and innovative
banking services. It also shows that businesses increasingly recognize the value of fast, efficient and predictable payments to the
overall success of their business.
Key findings of the survey reveal:
Banking in real-time is a priority for many SMEs: Of the US respondents that find faster payments appealing, 74 percent
said that they would find receiving payments from customers in real-time important, with 54 percent saying the same about paying
vendors and suppliers in real-time. 56 percent of German SME businesses surveyed and 50 percent of those in Italy said real-time
banking services would be ‘essential’ to the success of their business.
-SMEs want new and innovative banking services: Many SMEs have switched to new payment methods and providers in the last
few years, a move which they say has been beneficial for their business. For example, 67 percent of SMEs in Germany use mobile or
internet banking (39% in the US), and 45 percent (32% in the US) use person-to-person payment providers such as PayPal or
Venmo.
-Payment delays are amongst the top frustrations of SMEs: Delays in payments either reaching their own account or the
accounts of vendors and suppliers are among the most cited frustrations of businesses surveyed in the US and Europe (51% in the US,
61% in France, 65% in Italy and 56% in Germany).
Barry Kislingbury, Director Solution Consulting, Immediate Payments, ACI Worldwide comments:
“2017 will be a crucial year for real-time payments globally. Banks have a real opportunity to work with their customers and
offer the new and innovative services they really want. Delayed and unpredictable cash flow can significantly affect the success of
businesses, particularly small ones. The real-time schemes currently being built in the US and Europe will empower consumers and
businesses to send and receive real-time payments from their existing accounts, and will also provide a platform for banks to
launch new services built around a real-time payments hub for today’s digital economy.”
According to the survey, the majority of businesses in the US and Europe are not even aware of plans to develop real-time
schemes: 81 percent of SME decision makers in the US have not heard about the TCH real-time payments scheme. In Europe, 55 percent
of French businesses and 80 percent of those in Germany are not aware of any plans to develop a pan-European scheme.
Both the pan-European SEPA Instant Credit Transfer Scheme (SCT Inst) and The Clearing House (TCH) Real-time Payments System
pilot will be launched later this year. The pan-European SCT Inst Scheme is due to go live in November 2017 and will enable
consumers and businesses to make euro credit transfers in real-time between accounts across an international area—eventually
spanning over 34 European countries.
Barry Kislingbury comments:
“Our findings show that businesses are ready for real-time payments. The new schemes in the US and Europe will be the most
comprehensive real-time payment systems ever developed. However, financial institutions still have a long way to go when it comes
to educating customers about the benefits and opportunities the new schemes offer. Banks that are now educating and raising
awareness of their real-time offerings are those that are most likely to benefit from the new opportunities moving forward."
To view additional SME global real-time payments survey insights, or to access an ACI report with real life lessons from
financial institutions that have made the move to immediate payments, please click here or visit https://www.aciworldwide.com/lp/immediate-payments-sme.
*Note to editors: All figures, unless otherwise stated, are from YouGov Plc. Total sample size was 1,255 adults (US 501,
Italy 249, France 251, Germany 254). Fieldwork was undertaken between 3rd to 13th February 2017. The survey was carried out
online and all respondents were senior decision makers in SMEs with no more that 250 employees.
ACI Immediate Payments
ACI has an unmatched global customer base of financial institutions and payment service providers using its UP Immediate
Payments solution. In the UK, the solution has been used by financial institutions to access the UK Faster Payments scheme since
its launch in 2008. Currently, 9 out of the 14 direct participants of the UK’s Faster Payments Scheme use ACI’s solutions. Last
year EBA Clearing selected ACI as one of the ‘frontrunner service providers’ for the pan-European EBA SEPA Instant Credit scheme.
ACI has also partnered with VocaLink to offer a complete end-to-end immediate payments solution for a domestic or regional
immediate payments network. Additionally, ACI has customers using UP Immediate Payments to access Singapore FAST and the Australian
NPP (New Payments Platform). ACI serves on the ISO 20022 Real-Time Payments Group, the EPC Instant Payments Technology Group,
payments and security task forces for the U.S. Federal Reserve, and chairs the IPFA rules working group.
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.
© 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.
Attachments:
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/eba54e1e-5229-4b17-9bec-1aa2438de9d8
Katrin Boettger ACI Worldwide 0044 (0)7776147910 katrin.boettger@aciworldwide.com Dan Ring ACI Worldwide 781-370-3600 dan.ring@aciworldwide.com
