ACI Worldwide Strengthens Real-Time Payments Capability with Investment in Mindgate Solutions, India’s Leading Digital Payments Solution Provider

ACI is Poised to Drive the UPI (Unified Payments Interface)
Transaction Opportunity in India and the Global Push to Real-Time,
Digital Payments

(NASDAQ: ACIW), a leading global provider of real-time electronic
payment and banking solutions
, today announced it is
making a strategic investment in Mumbai-based Mindgate Solutions,
India’s leading digital payments company as well as the country’s market
leader in processing UPI (Unified Payments Interface) transactions. The
financial details of the investment were not disclosed.

As part of this investment, ACI and Mindgate will deliver a joint
real-time payments solution that will combine ACI’s proven Universal
Payments software solutions with Mindgate’s digital overlay services.
The advanced, end-to-end real-time
solution will be offered to banks, financial intermediaries
and merchants in India and other international markets via an
on-premise, public cloud or hosted model. This investment will also
provide Mindgate with the ability to expand its footprint globally.

UPI is a mobile-based, real-time payments platform in India developed
and managed by the National Payments Corporation of India (NPCI). UPI
enables all bank account holders in India (of banks participating in the
UPI scheme) to send and receive money from their smartphones with a
single, simple identifier. UPI can be used for Person-to-Person (P2P)
payments and Consumer to Business (C2B) payments.

“Since its launch by NPCI in 2016, UPI has achieved incredible growth
due to its ease-of-use and convenience,” said AP Hota, former CEO of
National Payments Corporation of India (NPCI) and industry thought
leader. “Indeed, India is leading the global real-time and digital
payments revolution, and we are seeing other markets implementing
similar end-to-end solutions to drive payments modernization. The
combination of ACI and Mindgate will support the continued global
adoption of real-time and digital payments, while helping to drive UPI
as it becomes the dominant Indian retail payments method.”

UPI has quickly emerged as the second most common method of digital
payment in India. According to the National Payments Corporation of
India (NPCI), the total number of UPI transactions reached approximately
800 million in March 2019, up from 178 million in March 2018. By 2023,
experts predict 60 billion UPI transactions annually, accounting for
more than 50 percent of India’s digital payments transactions.

“UPI has made India one of the markets to watch for innovation on top of
real-time payments infrastructure,” said Kieran Hines, Head of
Industries, Ovum. “This alliance positions ACI Worldwide well to support
future growth in the domestic market, while also enabling Mindgate to
bring its products and experience to ACI’s international customer base.”

Mindgate software processes 30 million digital transactions globally
every day, and 70 percent of UPI transactions are currently routed
through Mindgate-customer banks. By contrast, ACI has a long and
established heritage in India, with eight of the country’s ten largest
banks utilizing ACI’s UP solutions for critical payments needs,
processing 60 percent of India’s digital payments transactions.

“We have long admired ACI, a real-time payments pioneer with a long
track record of success in India and across the world. Our alliance will
result in a joint solution that is future-proof, flexible and scalable,”
said George Sam, co-founder & business head, Mindgate Solutions. “The
combination of ACI’s proven switch capability along with Mindgate’s
overlay services, flexibility and agility will empower banks, merchants
and intermediaries to fully capitalize on UPI’s extraordinary growth.”

“We are very excited to join forces with Mindgate. Their strong and
talented team develops and delivers cutting-edge solutions and services,
and we look forward to embarking on this real-time payments journey with
them,” said Phil Heasley, president and CEO, ACI Worldwide. “The global
real-time and digital payments transaction opportunity is vast, and with
the Mindgate and ACI alliance, we are well-positioned to capitalize on
this growth opportunity—providing to banks, corporates, merchants and
payment intermediaries the world’s leading real-time payments offering.”

About ACI Worldwide
ACI Worldwide, the Universal
 (UP) company, powers electronic
 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 solutions delivered on customers’ premises or through
ACI’s private
, we provide real-time, immediate
 capabilities and enable the industry’s most complete omni-channel
 experience. To learn more about ACI, please visit
You can also find us on Twitter @ACI_Worldwide.

About Mindgate Solutions
Headquartered in Mumbai with global
regional technology centers in Asia, the Middle East and North America,
Mindgate Solutions has been at the forefront of the payments revolution
since its inception. A global leader in payments technology and
transaction processing, Mindgate develops next-generation payments
platforms for UPI and other real-time payment schemes across the globe.

© Copyright ACI Worldwide, Inc. 2019
ACI, ACI Worldwide, the ACI
logo, ACI Universal Payments, UP, the UP logo and all ACI
product/solution names are trademarks or registered trademarks of ACI
Worldwide, Inc., or one of its subsidiaries, in the United States, other
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of their respective owners.

Product roadmaps are for informational purposes only and may not be
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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
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ACI Forward-Looking Statements
This press release contains
forward-looking statements based on current expectations that involve a
number of risks and uncertainties. Generally, forward-looking statements
do not relate strictly to historical or current facts and may include
words or phrases such as “believes,” “will,” “expects,” “anticipates,”
“intends,” and words and phrases of similar impact. The forward-looking
statements are made pursuant to safe harbor provisions of the Private
Securities Litigation Reform Act of 1995.

Forward-looking statements in this press release include, but are not
limited to, statements regarding our expectations of our positioning to
drive the Unified Payments Interface transaction opportunity in India
and the global push to Real-Time, Digital Payments.

All of the foregoing forward-looking statements are expressly qualified
by the risk factors discussed in our filings with the Securities and
Exchange Commission. Such factors include, but are not limited to,
increased competition, the success of our Universal Payments strategy,
demand for our products, restrictions and other financial covenants in
our debt agreements, consolidations and failures in the financial
services industry, customer reluctance to switch to a new vendor, the
accuracy of management’s backlog estimates, the maturity of certain
products, failure to obtain renewals of customer contracts or to obtain
such renewals on favorable terms, delay or cancellation of customer
projects or inaccurate project completion estimates, volatility and
disruption of the capital and credit markets and adverse changes in the
global economy, our existing levels of debt, impairment of our goodwill
or intangible assets, litigation, future acquisitions, strategic
partnerships and investments, the complexity of our products and
services and the risk that they may contain hidden defects or be
subjected to security breaches or viruses, compliance of our products
with applicable legislation, governmental regulations and industry
standards, our ability to protect customer information from security
breaches or attacks, our compliance with privacy regulations, our
ability to adequately defend our intellectual property, exposure to
credit or operating risks arising from certain payment funding methods,
the cyclical nature of our revenue and earnings and the accuracy of
forecasts due to the concentration of revenue-generating activity during
the final weeks of each quarter, business interruptions or failure of
our information technology and communication systems, our offshore
software development activities, risks from operating internationally,
including fluctuations in currency exchange rates, exposure to unknown
tax liabilities, volatility in our stock price, and potential claims
associated with our sale and transition of our CFS assets and
liabilities. For a detailed discussion of these risk factors, parties
that are relying on the forward-looking statements should review our
filings with the Securities and Exchange Commission, including our most
recently filed Annual Report on Form 10-K and our Quarterly Reports on
Form 10-Q.


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+1 (781) 370-3600

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