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Moves in the bill pay industry (Image: Shutterstock).

Electronic payments company ACI Worldwide has announced plans to acquire Western Union’s bill pay business for $750 million in cash, according to a press release from the two companies this week.

ACI said it plans to combine Western Union’s Speedpay bill pay arm with its own UP Bill Payment platform into a unified platform that will support billions of transactions. The acquisition is intended to expand ACI’s bill pay business in the consumer finance, insurance, healthcare, higher education, utilities, government and mortgage sectors, ACI said.

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Tina Orem

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