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ACI Worldwide, Inc. (NASDAQ: ACIW) is a leading provider of mission-critical, real-time payments software solutions. The company offers a comprehensive suite of software and SaaS-based solutions that facilitate electronic payments and enable the industry's most complete omni-channel payments experience. ACI Worldwide powers electronic payments for more than 5,100 organizations globally, including over 1,000 of the largest financial institutions and intermediaries, as well as thousands of leading merchants. The company's software products process transactions for retail banking clients, utilities, healthcare providers, and community banks, facilitating $14 trillion in payments daily.
ACI Worldwide's latest projects include key partnerships and technological advancements, such as the collaboration with RYVYL EU to leverage the ACI Payments Orchestration Platform for improved transaction conversion rates and enhanced customer experiences. Additionally, the extension of its longstanding partnership with Kuvasz Solutions aims to advance the adoption of Colombia's real-time payments ecosystem, signifying ACI's commitment to driving digital payments transformation in Latin America.
Financially robust, ACI Worldwide reported significant growth in Q4 2023, with a total revenue increase of 5% YoY to $477 million, recurring revenue up by 7%, and a net income growth of 36% to $123 million. The company also repurchased 1 million shares for $28 million and expects continued revenue growth of 7-9% in 2024. These figures underscore ACI Worldwide's strong market position and strategic focus on expanding its payment technologies and global footprint.
In addition to its financial achievements, ACI Worldwide continuously enhances its product offerings. Recent advancements include the integration of cutting-edge data-centric security solutions through its partnership with Comforte AG to help clients meet the new PCI DSS v4.0 standards. This commitment to innovation and security ensures that ACI Worldwide remains at the forefront of the evolving payments industry, providing secure, scalable solutions that meet the needs of its diverse customer base.
For more information, visit ACI Worldwide or follow them on Twitter @ACI_Worldwide.
ACI Worldwide (NASDAQ: ACIW) has been selected by the Federal Reserve Banks for the pilot program of the FedNow Service, a new real-time payments initiative. ACI will assist in developing and testing this service, aimed at enabling secure real-time payment capabilities for thousands of financial institutions across the U.S. Craig Ramsey, ACI's head of real-time payments, emphasized the company's commitment to enhancing payment speed and convenience. ACI currently supports multiple real-time payment systems globally and will help shape the FedNow Service's adoption and functionality.
ACI Worldwide (NASDAQ: ACIW) reported a 24% increase in global eCommerce transactions in December 2020 compared to December 2019. Notably, the retail sector saw a 31% rise, while the gaming sector surged by 90%. The company noted a 70% increase in buy online, pick up in store (BOPIS) usage, but also a rise in BOPIS fraud attempts to 7%. Non-fraud chargebacks grew 26% due to shipment delays and increased consumer spending. ACI anticipates further growth in eCommerce as more consumers adapt to online shopping and expedited in-store pickup.
ACI Worldwide (NASDAQ: ACIW) announced its participation in the 23rd Annual Needham Virtual Growth Conference scheduled for January 15, 2021. ACI Worldwide is a prominent global provider of real-time digital payment software and solutions, offering payment processing, omni-commerce payments, and fraud management services. The company's innovative solutions enable clients to manage digital payments efficiently and securely, driving the transformation of payments and commerce on a global scale.
ACI Worldwide (NASDAQ: ACIW) and JCB International Co., Ltd. announced the successful global rollout of JCB's Web API Service, including a dispute function. This service, built on ACI Secure eCommerce, enhances payments acceptance for merchants across Asia and globally. JCB's acceptance network spans over 35 million locations worldwide, allowing acquirers and PSPs to simplify integration and improve operational efficiency. The collaboration supports JCB's ambition for global expansion, leveraging ACI's proven solutions to streamline operations and enhance cardmember service.
ACI Worldwide (NASDAQ: ACIW) reveals in a recent study that over a third of consumers will require at least six months to catch up on missed bill payments due to COVID-19. The survey of 3,000 U.S. adults indicates a significant financial strain, with 30% reporting reduced incomes. Additionally, 10% are currently behind on payments. The demand for flexible and faster payment options is rising, particularly among younger consumers. Key findings highlight a shift towards digital payments, with 16% using digital platforms more than before the pandemic, and a notable preference for expedited transaction processes.
ACI Worldwide (NASDAQ: ACIW) reported a 21% increase in global eCommerce transactions for November 2020 compared to the previous year, driven by heightened consumer demand for household goods and services. Significant growth in the retail sector was observed, with a 30% increase from Thanksgiving to Cyber Monday. However, average ticket prices fell by 3%, and fraud attempt rates rose slightly to 1.7% by volume. Notably, the travel and ticketing sectors saw declines of 60% and 85%, respectively, due to the pandemic.
On December 2, 2020, Starboard Value LP, a major shareholder of ACI Worldwide (ACIW) with a 9% stake, delivered a letter to ACI's Chairman David Poe and CEO Odilon Almeida. The letter, which was also shared with ACI's Board of Directors, outlines Starboard's strategic recommendations for enhancing shareholder value. Starboard Value LP focuses on investing in undervalued companies and actively engaging with management to unlock potential value.
ACI Worldwide (NASDAQ: ACIW) announced that Credit Union Loan Source (CULS) will enhance its digital payments through ACI Speedpay. CULS experienced an 89% increase in interactive voice response payments and a 30% growth in mobile wallet usage since adopting ACI's solutions. The implementation streamlined bill payments, leading to a 15% drop in call center volume. CULS's mobile wallet feature also increased paperless adoption rates from 2% to 18%, contributing to cost savings and improved consumer satisfaction.
ACI Worldwide (NASDAQ: ACIW) announced its Fraud Management solution is now certified and available as a private offering on the Microsoft Azure Marketplace. This certification allows for easier deployment, responding to the urgent need for financial institutions to adapt to the evolving fraud landscape. The solution offers advanced features like machine learning and predictive analytics for comprehensive fraud detection. Key benefits include rapid setup, scalability, enhanced security, and compliance automation, streamlining operational efficiencies for customers.
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