Capitec Bank Poised to Expand its Payments Business Through ACI Worldwide’s Retail Payments Solution
Capitec, one of South Africa’s leading retail banks, extends relationship with ACI, utilizing UP Retail Payments solution to future-proof its payments technology
Capitec, which has long relied upon ACI’s Postilion integrated payments engine, is expanding its usage of ACI’s Universal Payments offerings to benefit from the enhanced flexibility of the UP Retail Payments solution. Based on the Universal Payments Framework (UPF), this allows configuration-based deployment of new payment services, which speeds time to market and increases self-service options for Capitec as it further expands its business and corporate banking services.
“We anticipate significant growth in transaction volume over the next
ten years, as a variety of innovative digital payments products are
launched – the combination of scalability and flexibility that ACI’s UP
Retail Payments solution offers will not only support that growth, but
also ensure we’re future-proofing our payments environment,” said Japie
Britz, Systems Development Manager – Card Processing,
“Africa continues to be fertile ground for fintech and payments
ACI supports core payment processing for Capitec with its enterprise-class UP Retail Payments solution, which is based on the Universal Payments (UP) Framework and built on open service-oriented architecture for robust payments orchestration. The solution, which delivers 24x7 secure payment capabilities and is currently used by 8 of the world’s top 10 banks, allows Capitec to create and expose payment services to external entities and to address PCI compliance requirements through tokenization.
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