ACI Worldwide has revealed that Kwik Payments has implemented the Payments Orchestration Platform by ACI to enable e-commerce expansion in South Africa and other African nations.
This is a significant move in the African expansion plans of ACI Worldwide. Also, it enhances the capabilities of ACI through its increasing network of merchants, payment services providers, and merchant acquirers. This platform integrates POS terminals, ATMs, and eCommerce portals to leading card schemes such as Visa, Mastercard, and American Express.
“Our ambition is to help shape the future of digital commerce in Africa by giving merchants access to reliable, high-performance and globally competitive payment capabilities,” said Eddy Marais, CEO of Kwik Payments. “Partnering with ACI provides us with a proven orchestration foundation that supports our growth strategy, enabling us to scale from South Africa into broader African markets while delivering world-class eCommerce experiences.”
Enhancing Merchant Payments Across Africa
“Africa is one of the fastest-growing digital commerce regions in the world, and South Africa plays a critical role as a gateway for innovation and scale,” said Matt Rubin, Head of Merchant, Middle East & Africa, ACI Worldwide. “With ACI’s Payments Orchestration Platform, Kwik Payments provides the flexibility and intelligence needed to help African merchants compete on a global stage, while navigating local payment preferences, complexity and growth demands.”
Merchants can efficiently coordinate and streamline their payments processes using the Payments Orchestration Platform offered by Kwik Payments on various payment channels such as online, mobile, and recurrent. Merchants can further leverage the use of intelligent routing of payment transactions between multiple acquiring banks and payment options. This allows for companies to quickly roll out their service offerings within one to two weeks.
Moreover, the use of fraud detection via artificial intelligence (AI) technology is employed to analyze more than 1,000 factors for each transaction. In addition, reporting and reconciliation systems powered by AI technology can minimize errors while increasing efficiency. The partnership showcases a common vision toward the development of Africa’s digital economy through digital payment infrastructures and payment options.
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News Source: Businesswire.com
