Press release

Canara Bank First to Market in India with EMV Acquiring & Aadhaar Authentication – Powered by ACI Worldwide

Sponsored by Businesswire

 (NASDAQ:ACIW), a leading global provider of real-time electronic
payment and banking solutions
, today announced that Canara Bank has
successfully rolled out major new functionality to support EMV card
acquiring across its ATM network and Aadhaar Authentication, leveraging
Retail Payments solution
to achieve market firsts.

Canara Bank, one of India’s largest public sector banks with nearly
6,300 branches and a network of more than 10,000 ATMs, is the first
public sector bank to shift to EMV chip and PIN for card present
transactions across the country’s vast ATM network. The EMV shift, as in
other major global markets, is aimed at reducing lost and stolen card
fraud and making counterfeit card fraud more difficult. The Reserve Bank
of India (RBI) had set a deadline of December 31, 2018 for the switch,
mandating use of an embedded chip to replace the traditional magnetic
stripe card.

The bank has tapped into the extensive functionality of ACI’s UP Retail
Payments solution, which they have been relying upon as their core
payments processing engine for 12 years, to be the first public sector
bank in India to meet RBI’s EMV mandate. This is a major achievement for
the bank as it offers its retail banking customers improved
authentication for card-present transactions at the ATM, thus ensuring
even greater security and risk mitigation. In addition, functionality
developed by ACI and Canara Bank also speeds up the process of Aadhaar
number linking, which eases KYC compliance at the bank’s branches.

“ACI has played a central role in driving EMV rollouts across numerous
countries over the years. That, coupled with our long and extensive
footprint within India, enables us to effectively drive key initiatives
for innovative banks like Canara Bank, a long-time ACI customer,” said
Kaushik Roy, Vice President – South Asia, ACI Worldwide. “Canara Bank’s
successful rollout of EMV acquiring across its ATM network, and its
implementation of biometric ID based on the 12-digit Aadhaar number,
demonstrates that even the largest public sector companies can adopt a
more agile approach and benefit from working with vendors such as ACI,
which offer flexible, scalable payments technology.”

Retail Payments solution
, based on the Universal Payments (UP)
Framework and built on open service-oriented architecture for robust
payments orchestration, supports core payment processing with 24×7
secure payment capabilities. ACI’s solution also enables Indian
financial institutions to access APIs developed by the National Payments
Corporation of India’s (NPCI) UPI initiative, which connect banks’
issuing systems to central infrastructures and payment service providers

About ACI Worldwide

ACI Worldwide, the Universal
 (UP) company, powers electronic
 for more than 5,100 organizations around the world. More
than 1,000 of the largest financial institutions and intermediaries, as
well as thousands of global merchants, rely on ACI to execute $14
trillion each day in payments and securities. In addition, myriad
organizations utilize our electronic
bill presentment and payment
 services. Through our comprehensive
suite of software solutions delivered on customers’ premises or through
ACI’s private
, we provide real-time, immediate
 capabilities and enable the industry’s most complete omni-channel
 experience. To learn more about ACI, please visit
You can also find us on Twitter @ACI_Worldwide.

© Copyright ACI Worldwide, Inc. 2019

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