ACI Worldwide Launches Wallet Hub for Merchants with Access to 200+ Digital Wallets in 70+ Countries

Rhea-AI Summary

ACI Worldwide (NASDAQ: ACIW) has launched ACI Wallet Hub, connecting merchants in 70+ countries to over 200 digital wallets through a single API integration. This hub simplifies the management of multiple wallet integrations, enhancing eCommerce sales by promoting an easy checkout experience. The rise in digital wallet usage, with 52.7% of consumers adopting them in 2021, drives demand for this solution. ACI Wallet Hub aims to reduce costs and improve time-to-market for merchants by offering a comprehensive suite of payment options across eCommerce, mobile, and in-store channels.

Positive

• Launch of ACI Wallet Hub connecting merchants to 200+ digital wallets.
• Simplifies integration, reducing costs and time to market for merchants.
• Supports consumer preference for digital wallets, as usage rose by 33% over five years.

Negative

• None.

Via a single integration, ACI Wallet Hub enables merchants to offer customers a wide range of Digital Wallet options, driving eCommerce sales and conversions

MIAMI--(BUSINESS WIRE)-- ACI Worldwide (NASDAQ: ACIW), a global leader in mission-critical, real-time payments software, today announced the launch of ACI Wallet Hub, an integrated network that connects merchants in 70+ countries to a single hub for 200+ global and regional digital wallets.

Merchants can enable ACI Wallet Hub via simple API integration with ACI's payments orchestration platform. Through a single integration — and a single vendor relationship — ACI Wallet Hub provides merchants with access to every leading digital wallet available today and the ability to deliver native wallet checkout experiences for consumers. The new wallet hub will save time and money on developing, managing and maintaining digital wallet integrations. ACI Wallet Hub eliminates integration burdens to multiple wallet providers and future proofs against changing technical and compliance requirements.

Consumer use of digital wallets continues to increase worldwide. More than half of consumers (52.7%) held and used a digital wallet in 2021, representing a 33% increase over the last five years. However, with the rise of popular digital wallets, many merchants are forced to manage multiple individual integrations and payment gateway contracts. It increases costs and slows the time to market new payment experiences.

ACI offers extensive coverage across the wallet hub network, gaining complete access to a large and ever-growing suite of digital wallets as part of the core API so merchants can offer the alternative payments customers prefer at checkout via any channel – eCommerce, mobile apps and in-store.

“Digital wallets are increasingly secure, flexible and convenient, with Millennials and Gen Z, in particular, embracing them as a mainstream payment method,” said Debbie Guerra, chief product officer, ACI Worldwide. “ACI Wallet Hub enables merchants to offer customers all their preferred ways to pay to achieve greater eCommerce sales and faster growth.”

“ACI Wallet Hub takes the complexity out of keeping up with emerging technologies and customer demand,” commented Basant Singh, global head of ACI’s merchant segment. “It enables merchants to stay flexible and innovative without the high cost and compliance burdens associated with integrating and maintaining multiple individual digital wallets.”

About ACI Worldwide

ACI Worldwide is a global leader in mission-critical, real-time payments software. Our proven, secure and scalable software solutions enable leading corporations, fintechs and financial disruptors to process and manage digital payments, power omni-commerce payments, present and process bill payments, and manage fraud and risk. We combine our global footprint with a local presence to drive the real-time digital transformation of payments and commerce.

© Copyright ACI Worldwide, Inc. 2023

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/20230117005091/en/

Media:

ACI Worldwide:

Nick Karoglou

nick.karoglou@aciworldwide.com

Katrin Boettger

katrin.boettger@aciworldwide.com

Source: ACI Worldwide

FAQ

What is ACI Wallet Hub launched by ACI Worldwide?

ACI Wallet Hub is a new platform enabling merchants to connect to over 200 digital wallets through a single API integration, streamlining payment processes.

How many digital wallets does ACI Wallet Hub support?

ACI Wallet Hub supports over 200 global and regional digital wallets.

What advantages does ACI Wallet Hub offer to merchants?

It reduces integration complexity and costs, allowing merchants to manage multiple digital wallets easily and enhance eCommerce sales.

Why is the launch of ACI Wallet Hub significant for ACI Worldwide?

The launch is significant as it addresses the growing consumer preference for digital wallets and aims to improve merchants' efficiency in adopting digital payment solutions.

What impact does increased digital wallet usage have on ACI Worldwide?

The rising consumer adoption of digital wallets presents growth opportunities for ACI Worldwide as it enhances the demand for their Wallet Hub services.