ACI Worldwide Partners With Kuvasz Solutions To Advance Real-Time Payments Adoption in Colombia

Rhea-AI Summary

ACI Worldwide (ACIW) partners with a top Latin American payment services provider to enhance Colombia's real-time payments ecosystem, aiming to lead in Latin America. The collaboration is set to bolster adoption by banks, fintechs, and merchants, positioning Colombia as a regional real-time payments frontrunner.

• Alliance with one of Latin America’s leading providers of professional services for the payments industry will strengthen the adoption of Colombia’s new domestic real-time payments ecosystem by banks, fintechs and merchants.

• Partnership will cement Colombia’s role as a real-time payments leader in Latin America and serve as a model for future implementations in the region.

MIAMI & BOGOTÁ, Colombia--(BUSINESS WIRE)-- ACI Worldwide (NASDAQ: ACIW), a global leader in mission-critical, real-time payments software, today announced an extension of its longstanding partnership with Kuvasz Solutions, a leading Latin American provider of professional services for the payments industry, to advance the adoption of Colombia’s new domestic real-time payments ecosystem, announced by ACI and the Colombian Central Bank in December 2023.

Kuvasz Solutions has partnered with ACI Worldwide in Latin America for nearly 10 years, supporting the delivery and implementation of ACI’s payment software solutions to strategic clients across the payments ecosystem. The extension of this partnership will offer several benefits to market participants in Colombia. Kuvasz’s specialized knowledge of implementing ACI’s state-of-the-art technology means that participants will benefit from swift and secure implementation of its immediate payment solutions, while its extensive experience across Latin America enables the company to adapt the new offering to the needs of local players.

“We are confident that the extension of our partnership with Kuvasz Solutions will support the rapid adoption of the new scheme by banks, fintechs and merchants in Colombia,” commented Leonardo Escobar, head of Latin America, ACI Worldwide. “It means Colombian businesses and consumers will be able to reap the many benefits of real-time payments, including economic growth and financial inclusion. The partnership will also serve as a model for future implementations in the region, positioning Colombia as a leader when it comes to real-time payments adoption in Latin America.”

“We are proud to have been chosen by ACI Worldwide as a partner in this exciting new phase for Colombia’s real-time payments market,” said Christian Montesdeoca, president and CEO, Kuvasz Solutions. “We are confident that our experience and expertise will help lay the foundation for a more inclusive financial future, where secure real-time payment transactions will be a reality for all Colombian citizens.”

ACI currently powers 26 domestic and pan-regional real-time schemes across six continents – including 10 central infrastructures – providing solutions to central banks, participant banks, fintechs and other PSPs. Globally, ACI covers approximately one-third of the countries that offer real-time payment services, reaching about 1.8 billion people* served by various organizations, including central governments, payment networks, banks, financial institutions and fintech companies.

*Note to editors: Data provided by Global Data

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. 2024

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/20240228777300/en/

Media Contacts

Nick Karoglou: nick.karoglou@aciworldwide.com

Katrin Boettger: katrin.boettger@aciworldwide.com

Source: ACI Worldwide

FAQ

What is the purpose of ACI Worldwide's partnership with a Latin American payment services provider?

The partnership aims to strengthen Colombia's new domestic real-time payments ecosystem and enhance adoption by banks, fintechs, and merchants.

Which region does ACI Worldwide aim to lead in with this collaboration?

ACI Worldwide aims to position Colombia as a leader in real-time payments within Latin America through this partnership.

What role will Colombia play in the future of real-time payments in the region?

Colombia's role as a real-time payments leader in Latin America will serve as a model for future implementations in the region.