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Co-op migrates payment systems to ACI cloud platform

EditorNatashya Angelica
Published 01/11/2024, 02:04 AM
Updated 01/11/2024, 02:04 AM
© Reuters.

MIAMI & LONDON - Co-op, the U.K. consumer cooperative, has completed the transition of its payment and fraud prevention systems to ACI Worldwide (NASDAQ:ACIW)'s cloud-based platform, enhancing its operational efficiency. This move to ACI's multi-tenant cloud platform, which is hosted on Microsoft (NASDAQ:MSFT) Azure, is aimed at providing the retailer with improved scalability, security, and data protection.

ACI Worldwide (NASDAQ: ACIW), recognized for its real-time payments software, has facilitated this migration as part of a broader strategic alliance with Microsoft, aimed at advancing cloud-based payment solutions. Co-op's adoption of ACI's Payments Orchestration Platform will support a range of payment processing needs, from in-store to online and mobile transactions, while also bolstering end-to-end payment and fraud management.

Paul Fletcher, principal solution architect at Co-op Group, expressed satisfaction with the project's completion, emphasizing the importance of data security and the anticipated benefits of faster and more efficient operations. The technology is expected to enable Co-op to introduce new, seamless, and secure payment experiences for its customers.

ACI Worldwide's collaboration with Microsoft has been instrumental in expanding its cloud payment offerings, as noted by Scotty Perkins, head of product management innovation and modernization at ACI Worldwide. The partnership aims to assist merchants and financial institutions in navigating digital transformation and adopting more efficient business models.

ACI Worldwide specializes in scalable and secure payment software solutions that serve corporations, fintechs, and financial disruptors worldwide. Co-op, with its extensive network of food stores, funeral homes, and other services, is owned by millions of U.K. consumers and is known for its social goals and community programs.

The information for this report is based on a press release statement.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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