Payment21, owned by Swiss-based Moving Media GmbH and ACI Worldwide today announced a strategic collaboration enabling payment service providers (PSPs) to offer merchants anti-money laundering (AML) compliant Bitcoin acceptance via ACI’s UP eCommerce Payments solution. ACI’s network of more than 130 PSPs, serving more than 56,000 merchants, can now accept Bitcoin payments as a result.
Payment21.com is the first regulated Bitcoin payment processor with a strong focus on the compliance needs of enterprise-level businesses and the legal prerequisites of their banking partners.
The Bitcoin cashier system provides AML-compliant cryptocurrency transactions, designed to meet the needs of eCommerce merchants and multinational corporations with specific regulatory requirements. This approach makes Bitcoin a viable solution for publicly-traded companies, licensed gaming enterprises, concessionary wireless network providers and authorized investment funds.
ACI’s UP eCommerce Payments solution provides connectivity to a global network of more than 350 card acquirers and alternative payment methods via a single technical integration with a RESTful API.
Andy McDonald, vice president, ACI Worldwide stated:
“We have teamed up with Payment21.com so that our PSP clients will be able to offer AML-compliant bitcoin payments all without exposing their merchants to price volatility. ACI strives to remove the complexity from payments and streamline cross-border eCommerce.”
“The addition of Payment21.com’s cryptocurrency processing services to our network is another milestone in the ongoing expansion of our global network.”
The UP eCommerce Payments solution combines the extensive global reach of the ACI PAY.ON Payments Gateway, which provides technical connectivity to more than 350 alternative payment methods and card acquirers, with integrated ACI ReD Shield real-time fraud management.
Bernhard Kaufmann, general manager, Payment21.com said:
“Our relationship with ACI Worldwide allows us to achieve scale by enabling AML-compliant bitcoin acceptance for more than 130 PSPs globally.
“With Payment21, PSPs and merchants are able to meet Know-Your-Customer (KYC) rules in European and international jurisdictions, as the Bitcoin cashier system caters to global KYC-regulations.”
“This, together with no chargeback risk, makes enabling Bitcoin payments an effective solution for merchants that are seeking to address traditional points of friction – including delays and costs associated with cross-border payments.”
It was announced today from a client of Bitstamp, the EU-regulated bitcoin exchange has started asking new AML questions in regards to Euro deposits. You can see the email text below and judge the...Read more