ACI Worldwide has formed a 10-year partnership with Arab Financial Services to accelerate digital payments modernization across the Middle East and Africa.
The strategic 10-year partnership between leading real-time payments software provider ACI Worldwide and digital payment solutions provider, FinTech enabler, Arab Financial Services, has just been announced. Its primary objective is to accelerate the modernization of digital payments in the Middle East and Africa regions by banks, FinTechs, and merchants.
AFS CEO Samer Soliman said, "As the payments landscape becomes increasingly complex and prone to disruption, having a reliable technology partner with industry-leading solutions is crucial. Together, AFS and ACI Worldwide are committed to empowering our customers with cutting-edge technology that enhances operations, drives growth, and unlocks new profitability opportunities."
AFS is owned by 37 banks and financial institutions, regulated by the Central Bank of Bahrain, and serves over 60 clients across more than 20 countries. AFS offers a wide range of digital payment solutions, including card processing services, merchant acquiring, FinTech solutions, and value-added services.
Under this partnership, AFS would implement the enterprise payments platform of ACI Worldwide; it is a single, comprehensive platform for the multiple processing of multiple payment types securely. The flexible technology of the platform comes ready in cloud, multi-language, multi-currency, multi-institution features, and enables modern retail banking for AFS's banking and FinTech customers.
AFS will also implement the ACI Payments Orchestration Platform, a solution that allows merchants to utilize one platform and API integration to manage their payments in order to optimize conversion rates and reduce their operational cost while offering streamlined and secure payment experiences to their customers.
Santhosh Rao, Senior Vice President of MEASA at ACI Worldwide, said that this partnership will help the company support banks, financial institutions, and merchants in the region with flexible, agile, and innovative payment software solutions that boost their digital transformation efforts.
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