ALTO taps ACI for Indonesian alternative payments growth
ALTO, an interbank switch in Indonesia, is expanding its payments capabilities with the next generation of ACI Worldwide’s UP Retail Payments solution.
The company selected ACI to address new regulatory requirements, capture growth in alternative payments and respond to future developments of the national payment gateway within the Indonesian market.
The Indonesian firm currently provides digital payment services to banks, payment gateways, billers, corporates and merchants. With this latest implementation, it aims to add new payment endpoints in its market, which is expected to see growth in digital commerce over the next five years.
“As the Indonesian payments ecosystem rapidly digitises, reacting quickly to market changes and developing new payments capabilities is paramount,” says Armand Widjaja, CEO, ALTO. “The ability to tap into the full ACI Universal Payments portfolio was a key factor in selecting ACI, as we embark on our transformation journey with a view towards the emergence of a stronger Indonesian payment system, as well as cross-border payment flows across the ASEAN community and the rest of the Asian countries.”
“In addition, non-functional requirements such as platform stability and scalability were key priorities for our IT operations – an area where ACI has a strong track record,” Widjaja adds.
“Alternative payment methods, including those emerging to address growth in mobile and eCommerce, are evolving quickly across Asia – and Indonesia is one of the highest-growth regions with a booming digital commerce marketplace,” says Leslie Choo, managing director, Asia, ACI Worldwide.
ALTO will initially use ACI’s UP Retail Payments for card-based transaction switching, followed by expansion to address non-card-based transactions including a range of alternative payment methods and merchant acquiring.
ACI’s solution also launches ALTO to develop partnerships with new market entrants, increase interoperability with a wide range of financial institutions and intermediaries, and enable payments innovation.
