ACI Worldwide, a global provider of real-time payment software, has revealed a strategic collaboration with Arab Financial Services (AFS), a digital payment solutions provider and fintech enabler in the region. They aim to revolutionize the digital payment sector in the Middle East and Africa.
They’ll Modernize Payment Solutions across Africa and the Middle East
Regulated by the Central Bank of Bahrain, AFS is owned by 37 banks and financial institutions. The company serves over 60 clients in more than 20 countries, offering a diverse range of digital payment products and services such as card processing, merchant acquiring, fintech solutions, and value-added services.
Santhosh Rao, the Senior Vice President of MEASA at ACI Worldwide, stated, “Our innovative payment software solutions are now accessible to banks, financial institutions, and merchants in the region. AFS is well-positioned to assist all customers in their digital transformation journey while ensuring the resilience and quality demanded by modern payment systems.”
What’s More in the AFS And ACI Partner Partnership?
In a groundbreaking 10-year collaboration, AFS will utilize ACI’s Enterprise Payments Platform. This transaction processing solution is celebrated for its security, cloud-ready flexibility, and multi-language, multi-currency features. AFS plans to lead a modernization effort in the retail banking sector by leveraging this platform, providing its banking and fintech customers improved capabilities and efficiency.
The Overall Collaboration Will Bring a Seamless Experience
AFS plans to implement ACI’s Payments Orchestration Platform to simplify merchant payment processes. This platform ensures smooth integration via a unified API interface, enhancing conversion rates and reducing operational costs. By embracing this technology, merchants and payment service providers can enhance customer experiences with convenience and security.
Samer Soliman, CEO of Arab Financial Services, emphasized the importance of reliable technology partners in today’s complex payment landscape. AFS and ACI Worldwide are dedicated to providing innovative technology that optimizes operations, drives growth, and boosts profitability.