ACI Worldwide to acquire Western Union’s Speedpay US domestic bill pay business
ACI Worldwide to acquire Western Union’s bill pay division. Source: shutterstock.com
Global provider of electronic payment and banking solutions ACI Worldwide and Western Union announced they have entered into a definitive agreement for ACI to acquire Speedpay, Western Union’s US bill pay business, for $750 million in an all-cash transaction. This acquisition brings together two leading bill pay portfolios in the rapidly-evolving US electronic bill pay and presentment market.
Together, the ACI and Speedpay bill pay solutions will serve more than 4,000 customers across the US, bringing expanded reach in existing and complementary segments such as consumer finance, insurance, healthcare, higher education, utilities, government, and mortgage.
ACI will bring together the Speedpay and UP Bill Payment platforms into a unified bill payment platform that will support billions of transactions.
The transaction is subject to customary closing conditions and regulatory approvals and is expected to close by the end of the second quarter of 2019.
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