Interswitch and ACI Worldwide Consolidate Strategic Partnership to Drive Payments Modernization across Sub-Saharan Africa

Rhea-AI Summary

ACI Worldwide (NASDAQ: ACIW) partners with Interswitch to launch Enterprise Payments Platform in African markets, boosting digital commerce and integrated payments. Key SEO terms: ACI Worldwide, Interswitch, Enterprise Payments Platform, Africa, digital commerce, integrated payments.

Positive

• Partnership with Interswitch will expand ACI's reach in African markets, potentially increasing revenue and market share.
• Integration of Enterprise Payments Platform will enhance digital commerce and payment solutions in Africa, tapping into a growing market.

Negative

• None.

• Interswitch, Africa’s leading integrated payments and digital commerce company, will support the rollout of ACI’s revolutionary Enterprise Payments Platform in key African Markets

MIAMI & LAGOS, Nigeria--(BUSINESS WIRE)-- ACI Worldwide (NASDAQ: ACIW), a global leader in mission-critical, real-time payments software, and Interswitch Group, Africa’s leading integrated payments and digital commerce company, today announced a new frontier in their 20-year-old relationship which consolidates Interswitch’s relationship with ACI from reseller to strategic partner status across multiple markets in the Sub-Saharan Africa region.

Tom Warsop, CEO, ACI Worldwide (R); Mitchell Elegbe, CEO, Interswitch (L) (Photo: Business Wire)

The partnership will enable banks, fintechs and other financial institutions in the region to progressively transform and modernize their payments infrastructure through ACI’s revolutionary Enterprise Payments Platform.

On the back of this partnership, Interswitch will incorporate the full range of payment solutions that form part of the ACI Enterprise Payments Platform into its technology stack, enabling banks and financial institutions across Africa to respond rapidly to regulatory mandates, new competition and evolving trends in a fast-changing payments landscape.

The ACI Enterprise Payments Platform is an end-to-end payments hub solution for retail and wholesale payments and encompasses all the capabilities of ACI Issuing, ACI Low Value Real-Time Payments, ACI Acquiring, ATM and Self-Service Banking, and ACI Fraud Management. The solution enables banks to future-proof their payments infrastructure and meet new customer demands for all payment types across consumer, merchant and corporate payments.

Interswitch, a strategic partner of ACI for more than 20 years, will offer new innovative products and services in Nigeria and 31 other markets in Sub-Saharan Africa where the payments sector is experiencing an unprecedented revolution and is poised to witness significant further growth on the back of a growing young population, increased digitization and progressive regulatory outlook.

“We are thrilled to announce the extension of our long-term partnership with Interswitch,” said Thomas Warsop, President and CEO, ACI Worldwide. “Our flexible, agile and innovative payment software solutions will now be available to banks and financial institutions across the continent. We have committed to a long-term investment in Africa, collaborating with local partners and experts, and are now in a fantastic position to support all stakeholders on their quest for digital transformation and innovation, while enabling the resiliency and service quality required by next-generation payment systems.”

“We are excited about our new strategic partnership with ACI Worldwide, which essentially consolidates our 20-year relationship across Sub-Saharan Africa,” said Mitchell Elegbe, Founder/Group Managing Director & CEO at Interswitch. “With the continued rise in real-time transactions and digital payments, providing sustainable payments infrastructure to support the increased demand in transactions is imperative. Interswitch and ACI are committed to driving digital transformation across Africa via the deployment of relevant digital solutions and innovative infrastructure that optimize business efficiency and drive our customers’ growth and profitability.”

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, fintech companies 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.

About Interswitch

Interswitch is a leading technology-driven company focused on the digitization of payments in Nigeria and other countries in Africa. Founded in 2002, Interswitch disrupted the traditional cash-based payments value chain in Nigeria by supporting the introduction of electronic payments processing and switching services.

Today, Interswitch is a leading player with critical mass in Nigeria’s developing financial ecosystem and is active across the payments value chain, providing a full suite of omni-channel payment solutions. Interswitch’s vision is to make payments a seamless part of everyday life in Africa, and its mission is to create transaction solutions that enable individuals and communities to prosper across Africa. Interswitch’s broad network and robust payments platform have been instrumental to the development of the Nigerian payments ecosystem and provide Interswitch with the infrastructure to expand across Africa.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231107457724/en/

Media Relations:

Nick Karoglou | Head of Communications and Corporate Affairs | nick.karoglou@aciworldwide.com

Katrin Boettger | Director Corporate Communications | katrin.boettger@aciworldwide.com

Interswitch Media

gmcc@interswitchgroup.com

Source: ACI Worldwide

FAQ

What is the partnership between ACI Worldwide and Interswitch about?

ACI Worldwide (NASDAQ: ACIW) is partnering with Interswitch to launch the Enterprise Payments Platform in African markets, aiming to boost digital commerce and integrated payments.

How will the partnership impact ACI Worldwide's market reach?

The partnership with Interswitch will expand ACI's reach in African markets, potentially increasing revenue and market share.

What is the significance of the Enterprise Payments Platform in African markets?

The Enterprise Payments Platform will enhance digital commerce and payment solutions in Africa, tapping into a growing market.