Somya Patnaik

Principal Product Manager, Real-Time & Digital Payments at ACI Worldwide

Somya is an experienced Product Manager whose expertise in the digital payments domain includes immediate payments, cards, point of sale (POS), mobile wallets, mobile banking and QR code-based payment solutions. As Principal Product Manager at ACI Worldwide, Somya leads the solution strategy and go-to-market for various Real-Time and Digital Payment initiatives within ACI.

Articles by Somya Patnaik

Aerial view of city


September 15, 2021

Why Real-Time Payments and Why Now?

As evidenced by ACI’s most recent Prime Time for Real-Timeglobal payments report, the real-time payments revolution has taken hold around the world. Consider, in just the past year and a half: India’s UPI set a record for monthly transactions with more than 3.5 billion in August 2021 The U.S.


September 22, 2020

Could COVID-19 Be India’s Cashless Catalyst?

India’s push towards a digital economy has accelerated over the years, with a supportive regulatory environment, home-grown technologies and innovation around digital infrastructure improving “last mile” connectivity to the remote towns and rural areas of the country. While the “Digital India” drive has been consistent, the COVID-19 pandemic has brought out the true value of digitization for businesses and consumers alike. It is a watershed moment and has fast-tracked the pace of digital adoption, particularly for payments, which now plays a critical role in economic recovery.


February 4, 2020

Digital Payments Overlay Services: Accelerating Real-Time Payments Growth

The global real-time payments landscape is transforming every day, as the world moves toward payments that offer a multitude of digital payment overlay services that drive consumer experience and adoption. But what are digital payment overlay services? They are ancillary services that often ride the real-time payments rails, and can be flexible, nimble drivers of innovation. These digital services – piggy-backing on the standard real-time payments rails – not only add value to core payments, but also bring about convenience and ease of use for all participants in the payments ecosystem.


October 15, 2019

India’s Unified Payments Interface: Breaking the Billion Barrier

September brought about quite a stir in the Indian payments ecosystem, with three years passing since the launch of UPI (Unified Payments Interface), and the realization that UPI is closing in on a significant milestone: one billion transactions per month. In September 2019, UPI clocked 955 million transactions, amounting to 1.61 trillion rupees (INR), demonstrating the extent to which Indian consumers have exuberantly welcomed real-time payments.


July 3, 2019

How UPI is Driving India’s Shift from Cash to Digital Payments

The Indian economy has traditionally been heavily dominated by cash, while experiencing low adoption of various online payment systems including National Electronic Funds Transfer (NEFT), Real Time Gross Settlement (RTGS) and inter-bank mobile payments. The dominance of cash is evidenced by the ratio of cash withdrawals at ATMs vs debit card usage at Point of Sale (POS)—ATM transaction volume is more than 2x greater than POS.

Prime Time for Real-Time

Global Payment Trends
As the world adopts real-time payments, how does your market stand to benefit?