On July 28, 2014, ACI Worldwide, a leading international provider of electronic payment and banking solutions, announced that it had been selected by Ohio-based Franklin University to power its online payments.
“When we set out to implement the self-service payment option with our Colleague software, we needed a trusted vendor with strong solutions that had a close relationship with Ellucian,” stated Christine Kurth, director of university information systems at Franklin University, in a press release. “We asked other institutions for recommendations and they overwhelmingly praised ACI. ACI’s solution was easy to implement and fully integrated with our Colleague system.”
- Franklin University is one of the largest private universities in Ohio, with a growing enrollment approaching 10,000 undergraduate and graduate students.
- The university says it wanted a proven payment provider with technology that required no additional programming to integrate with the school’s ERP system.
- It also wanted technology that provided a low total cost of ownership.
- ACI’s electronic payment solutions and integrated strategic partnerships with wide-ranging ERP providers made it the ideal payment partner, according to Franklin University.
- ACI is a market leader in providing electronic payment solutions to colleges and universities, with more than 300 higher-education institutions in the U.S. and Puerto Rico using its payment-processing solutions.
“We are pleased to provide Franklin University with a convenient and secure online tuition and fees payment option,” said Eric Labiak, senior vice president of ACI Worldwide, in the same release. “Our online payment options will deliver an enhanced payment experience for the school’s continuing education students.”
With the global e-commerce market forecast to grow over 17% a year, representing a total value of almost $2.4 Tn by 2017, fraud prevention is becoming a big issue in the industry. With that in mind, on July 21, 2014 ACI Worldwide announced that it had entered into a definitive transaction agreement with Retail Decisions (ReD), a leader in fraud prevention. Under the terms of the deal, ReD will be acquired by ACI Worldwide for $205 Mn.
About ACI Worldwide
ACI Worldwide, a universal payments company, powers electronic payments and banking for more than 5,000 retailers, financial institutions, processors and billers around the world. ACI software processes $13 Tn each day in payments and securities transactions for over 250 of the leading global retailers and 21 of the world’s 25 largest banks.