The original pioneer in global payments technology, ACI Worldwide, and Mexipay, a top provider of financial technology in Mexico, have announced that they are expanding their collaboration to improve the country’s real-time payments ecosystem.
The objective is to increase the uptake of instant payments while also fostering economic growth and financial inclusion for Mexican consumers and businesses.
In order to meet the demand for improved real-time payment services, Mexipay will make use of ACI’s Digital Central Infrastructure solution, which is a component of the renowned ACI Enterprise Payments Platform.
The platform will provide members with prospects for new revenue streams and payment methods by incorporating features like Alias management and Request to Pay, all of which are based on the global ISO 20022 standard.
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Mexico ranked as the tenth largest real-time payments market in the world in 2023 with 3.8 billion real-time payments completed, according to ACI’s most recent Prime Time for Real-Time report. With a predicted CAGR of 7.8% between 2023 and 2028, the nation is among the Latin American real-time marketplaces with the slowest rate of growth, despite having a head start in the area.
“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.”
ACI now powers ten central infrastructures and twenty-six domestic and pan-regional real-time schemes across six continents. It offers payment service providers, fintechs, participating banks, and central banks solutions.
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ACI reaches nearly 3 billion individuals worldwide who are served by a variety of organizations, including central governments, payment networks, banks, financial institutions, and fintech startups. It covers roughly one-third of the nations that provide real-time payment services.
“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.”
About ACI Worldwide
ACI Worldwide, a global payments technology pioneer, provides transformative software solutions that enable real-time intelligent payments orchestration so banks, billers, and merchants can grow and modernize their payment infrastructures securely. They combine global scale with a local presence to offer enhanced payment experiences to stay ahead of changing payment challenges and opportunities with nearly 50 years of trusted payments expertise.
About Mexipay
Mexipay, a new managed payment service provider, promotes ISO 20022 real-time payments, financial inclusion, and legacy technology enhancement. Mexipay’s omnichannel platform, built around ACI’s Enterprise Payments Platform, gives small and medium banks, merchants, governments, and other payment participants unprecedented access, opening up new options and opportunities for Mexico’s payments ecosystem.
