Interswitch Group, a leading integrated payments and digital commerce company in Africa, and ACI Worldwide, a global leader in mission-critical real-time payments software, have announced an expanded strategic partnership after a 20-year relationship. This partnership will elevate their collaboration to a new level, encompassing multiple markets in the Sub-Saharan Africa Region.
Through this collaboration, banks, fintechs, and financial institutions in the region will have the opportunity to modernize their payment infrastructure using ACI’s innovative Enterprise Payments Platform.
On the back of this partnership, Interswitch will integrate the full range of payment solutions from the ACI Enterprise Payments Platform into its technology stack, empowering African banks and financial institutions to adapt swiftly to regulatory changes, increased competition, and evolving payment trends in this dynamic landscape.
The ACI Enterprise Payments Platform, an end-to-end payments hub solution, covers retail and wholesale payments, including ACI Issuing, ACI Low-Value Real-Time Payments, ACI Acquiring, ATM and Self-Service Banking, and ACI Fraud Management. This platform allows banks to future-proof their payment systems and meet customer demands for various payment types.
Interswitch, with its extensive partnership history with ACI, will introduce innovative products and services in Nigeria and 31 other markets in Sub-Saharan Africa, where the payments sector is undergoing a transformative revolution, driven by a young population, increased digitization, and progressive regulations.
Thomas Warsop, President and CEO of ACI Worldwide, expressed excitement about extending their partnership, emphasizing their commitment to supporting digital transformation and innovation in Africa.
He said: “We are thrilled to announce the extension of our long-term partnership with Interswitch. Our flexible, agile and innovative payments 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, whilst enabling the resiliency and service quality required by next-generation payment systems.
On her part, Mitchell Elegbe, Founder/Group Managing Director & CEO at Interswitch, highlighted the importance of providing sustainable payment infrastructure to meet the rising demand for real-time transactions and digital payments in the region. Together, they aim to drive digital transformation, enhance business efficiency, and contribute to their customers’ growth and profitability.
“We are excited about our new strategic partnership with ACI Worldwide, which essentially consolidates our 20-year relationship across Sub-Saharan Africa.
“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” he said.
