Mexican financial technology company Mexipay will leverage ACI’s Digital Central Infrastructure solution to enable new payment options in Mexico
OMAHA, Neb. & MEXICO CITY--(BUSINESS WIRE)--Aug. 27, 2024--
ACI Worldwide (NASDAQ:ACIW), an original innovator in global payments technology, and Mexipay, a leading Mexican financial technology company, have announced the extension of their partnership to enhance Mexico’s real-time payments ecosystem, with the aim of driving instant payments adoption and boosting economic growth and financial inclusion for Mexico’s businesses and consumers.
Mexipay will utilize ACI’s Digital Central Infrastructure solution, part of the award-winning ACI Enterprise Payments Platform, to address the need for enhanced real-time payment services. The platform will be built on the global ISO 20022 standard and will offer additional features such as Request to Pay and Alias management, providing participants with opportunities for new payments and revenue streams.
According to ACI’s latest Prime Time for Real-Time report, 3.8 billion real-time payments were processed in Mexico in 2023, making it the 10th largest real-time payments market in the world. But despite its head start in the region, the country is one of the slowest-growing real-time markets in Latin America, with a projected CAGR of 7.8% between 2023 and 2028.
“We are excited to extend our partnership with Mexipay to bring the benefits of real-time payments to the Mexican economy,” said Alberto Olivares, head of Latin America, ACI Worldwide. “Latin America is one of the most exciting growth regions for our company. Partnering with fintechs and new market entrants is crucial to drive the advancement of real-time payment ecosystems. Mexico has a fantastic opportunity to maximize the use of its real-time rails and replicate the success of other countries in the region to drive economic growth and financial inclusion.”
“We are proud to be partnering with ACI Worldwide, the global leader in real-time payments technology and software,” said Fabian Uribe, co-founder and CEO of Mexipay. “This is a transformational partnership that will optimize Mexipay’s technological and market penetration capabilities to help government, public, and private sectors to advance the use of real-time payments in Latin America.”
ACI currently powers 26 domestic and pan-regional real-time schemes across six continents — including 10 central infrastructures — providing solutions to central banks, participant banks, fintechs, and other payment service providers. Globally, ACI covers approximately one-third of the countries that offer real-time payment services, reaching about 3 billion people served by various organizations, including central governments, payment networks, banks, financial institutions, and fintech companies.
About ACI Worldwide
ACI Worldwide, an original innovator in global payments technology, delivers transformative software solutions that power intelligent payments orchestration in real time so banks, billers, and merchants can drive growth, while continuously modernizing their payment infrastructures, simply and securely. With nearly 50 years of trusted payments expertise, we combine our global footprint with a local presence to offer enhanced payment experiences to stay ahead of constantly changing payment challenges and opportunities.
About Mexipay
Mexipay is a new-generation payment service provider specialized in offering managed services, focusing on boosting ISO 20022 real-time payments, promoting financial inclusion, and evolving legacy technology. Through our omnichannel platform built around ACI’s Enterprise Payments Platform, Mexipay provides access as never before to small and medium banks, merchants, governments, and other payment participants, untapping a new era of alternatives and opportunities for the complete payments ecosystem in México.
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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.
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Media:
Nick Karoglou: nick.karoglou@aciworldwide.com
Katrin Boettger: katrin.boettger@aciworldwide.com
Source: ACI Worldwide
