ACI Worldwide Launches Innovative Global BNPL Solution With Access to 70+ BNPL Lenders via Single Integration

Rhea-AI Summary

ACI Worldwide (NASDAQ: ACIW) launched ACI PayAfter, enabling merchants to offer over 70 Buy Now, Pay Later (BNPL) options via a single integration. This user-friendly solution improves acceptance rates and assists merchants in reaching a broader, often overlooked customer base, including the unbanked. ACI PayAfter simplifies financing for consumers by reducing multiple credit checks and application forms, encouraging purchases. With millennials and Gen Z making up significant market segments, ACI aims to enhance the consumer experience and boost sales for merchants.

Positive

• Introduction of ACI PayAfter enhances merchant sales potential.
• User-friendly interface allows merchants to offer multiple BNPL options, increasing acceptance rates.
• Addresses needs of Millennial and Gen Z consumers, who prefer BNPL options.
• Simplifies consumer financing process, reducing cart abandonment.

Negative

• None.

Innovative user interface a boon for merchants; provides higher BNPL acceptance rates and opportunity to serve a broader base of customers worldwide

MIAMI--(BUSINESS WIRE)-- ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time digital payment software, today announced ACI PayAfter™, a new solution that enables merchants globally to provide their customers with a choice of more than 70 BNPL options through a single integration. The innovative user interface enhances acceptance rates and serves a broader base of customers traditionally overlooked, boosting merchant sales worldwide.

For merchants, ACI PayAfter offers one application and a single contract that reduces the complexity and cost of integration, as well as faster speed to market, and actionable customer intelligence.

ACI PayAfter gives consumers one BNPL option—ACI PayAfter—displayed at checkout, one application form, and a single credit check, all while providing access to multiple financing options that best meet their needs quickly and with a higher probability of approvals. It eliminates the inconvenience of completing multiple loan application forms that garner multiple credit checks by BNPL lenders, which eventually leads to cart abandonment.

Studies show that 63 percent of Millennial and Gen Z consumers don't own credit cards and make up 40 percent of all consumers globally. At the same time, 42 percent of Gen Z and 69 percent of Millennials are more likely to purchase items if a BNPL option is offered. With ACI PayAfter, merchants can present their customers with multiple financing options and higher approval rates than the market currently provides today.

"With ACI PayAfter, merchants can provide their customers with a more inclusive experience and a wider choice of BNPL options that suit their needs, leading to fewer abandoned carts," said Debbie Guerra, head of merchant payments, ACI Worldwide. "The BNPL market locks out approximately 40 to 50 percent of potential consumers, including the younger generations who aren't interested in owning credit cards and the unbanked and underbanked population, many of whom are credit-worthy customers."

"ACI's single interface further democratizes payments by reducing the barriers to access for consumers who aren’t traditionally served by the financial system. With a portfolio of more than 70 BNPL providers, which we expect to expand to hundreds of providers, advances the consumer experience through a simpler checkout process and better approval rates, which leads to higher conversion for merchants," Guerra continued.

ACI PayAfter provides merchants with the flexibility to select the BNPL and financing options that are most relevant for their business and their customers.

"ACI partners with several BNPL players around the world. Being part of the ACI PayAfter network means that BNPL providers can take advantage of the opportunities for growth given ACI's vast global reach," Guerra concluded.

ACI PayAfter will be available to merchants using ACI Secure eCommerce and ACI Omni-Commerce.

ACI Secure eCommerce is a holistic platform that combines a powerful payments gateway, sophisticated real-time fraud prevention capabilities, In-store POS solutions, and advanced business intelligence tools. ACI Secure eCommerce was recently recognized by Juniper Research, winning three awards for innovation in payments, including a Platinum Award – the highest accolade in the category of "Payments Innovation of the Year." In addition, ACI's fraud management solution recently received full approval on the patent for its incremental learning technology.

ACI Omni-Commerce is a secure omni-channel payment processing platform with the flexibility to support in-store, online and mobile needs, and the scalability to power the purchasing experiences that customers are looking for now and in the future. Support for multiple card payment types, global schemes and alternative payment methods is coupled with access to a global payments network of acquirers and payment providers.

About ACI Worldwide
ACI Worldwide is a global software company that provides mission-critical real-time payment solutions to corporations. Customers use our proven, scalable and secure solutions to process and manage digital payments, enable omni-commerce payments, present and process bill payments, and manage fraud and risk. We combine our global footprint with local presence to drive the real-time digital transformation of payments and commerce.

© Copyright ACI Worldwide, Inc. 2022
ACI, ACI Worldwide, ACI Payments, Inc., ACI Pay, Speedpay and all ACI product/solution names are trademarks or registered trademarks of ACI Worldwide, Inc., or one of its subsidiaries, in the United States, other countries or both. Other parties' trademarks referenced are the property of their respective owners.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220214005194/en/

Media

ACI Worldwide:

Dan Ring

dan.ring@aciworldwide.com

Nidhi Alberti

nidhi.alberti@aciworldwide.com

Source: ACI Worldwide

FAQ

What is ACI PayAfter and how does it benefit merchants?

ACI PayAfter allows merchants to offer over 70 BNPL options through a single interface, reducing complexity and boosting sales.

How does ACI PayAfter improve customer experience?

It simplifies the financing process by providing one application form and a single credit check, improving approval rates.

Which demographics does ACI PayAfter target?

ACI PayAfter targets Millennials and Gen Z consumers, who are less likely to own credit cards and prefer BNPL options.

What percentage of consumers prefer Buy Now, Pay Later options?

42% of Gen Z and 69% of Millennials are more likely to purchase if a BNPL option is available.

What is the significance of ACI PayAfter's launch for ACI Worldwide investors?

The launch of ACI PayAfter positions ACI Worldwide to capture a larger market share in the growing BNPL market, which could positively impact stock performance.