Erste Bank Hungary (EBH) has selected ACI Worldwide’s UP Retail Payments Solution to enhance its electronic payment services.

The new initiative is an upgrade from the older versions of ACI’s solutions. EBH and ACI have been working together since 2003.

The technology vendor said that its UP Retail Payments Solution will help the lender to protect its existing investments and payments infrastructure and add new payment types.

In addition, EBH will calculate interchange fees using ACI Interchange, a central monetary transaction manager, as well as ACI Proactive Risk Manager, which manages fraud.

Erste Bank Hungary COO Tamas Foltanyi said: “We are delighted to continue our partnership with ACI. Its UP Retail Payments Solution will enable us to drive additional revenue by rapidly delivering innovative products that meet our customers’ demands while staying ahead of our competitors.

“ACI’s UP Retail Payments Solution will also ensure Erste Bank Hungary will be able to fully comply with new European regulations such as the EU Payments Services Directive (PSD2) by enabling faster implementation of Open APIs and facilitating the development of Instant Payments.”