DBS to launch Singapore's first real-time payments gateway service

It is leveraging on ACI Worldwide's expertise to serve corporate and institutional clients.

DBS is extending its partnership with payment solutions provider ACI Worldwide to introduce Singapore’s first FAST real-time payments gateway service to corporate and institutional customers.

According to a press release, the collaboration builds on DBS long-standing partnership with ACI which originally developed IDEAL, a digital banking portal for corporates which utilises ACI’s UP Real-Time Payments solution.

The solution allows banks to route their real-time payments, providing connectivity to immediate payments schemes and real-time gross settlement (RTGS) globally.

“Successful digital payment transformation requires not only embracing the real-time paradigm, but also adopting an ‘open’ mindset in which Open APIs play an important part, as well as working with ecosystem partners to make banking services readily available and joyful. ACI’s solutions are instrumental in our current and future real-time payment initiatives,” said DBS Bank head of Institutional Banking Group Ng Peng Khim.