ACI Worldwide has announced a 10-year partnership with Arab Financial Services (AFS) to drive digital payments modernisation for banks fintechs and merchants across the region. 

 

Regulated by the Central Bank of Bahrain, AFS is owned by a total of 37 banks and financial institutions and serves over 60 clients in more than 20 countries across the Middle East and Africa region. 

 

The company provides numerous ground-breaking end-to-end digital payment products, services and solutions to banks and merchant groups. AFS’s innovative approach to the provision of financial services is evidenced by a series of market-leading payment services that span card processing services, merchant acquiring, fintech solutions and value-added services.  

 

Single issuing platform

With this partnership, AFS will utilise ACI’s Enterprise Payments Platform, a single issuing platform for all payment types, backed by cutting-edge security, flexible cloud-ready technology and multi-language, multi-currency, multi-institution capabilities to drive the retail banking modernisation for its banking and fintech customers.

 

The company will also deploy ACI’s Payments Orchestration Platform, enabling its merchant customers to orchestrate payments using one solution, one platform and one API integration for optimal conversion rates at minimal operation costs. It will allow merchants and PSPs to provide customers more seamless and secure customer journeys.

 

Cutting-edge technology

Samer Soliman, CEO, AFS, said: "As the payments landscape becomes ever more intricate and prone to disruption, a reliable technology partner offering industry-leading solutions is crucial. Together, AFS and ACI Worldwide are committed to empowering our customers with cutting-edge technology that streamlines operations, fosters growth, and unlocks new levels of profitability.”

 

“ACI’s partnership with AFS is an important milestone in our strategy to support banks and merchants in the Middle East in their quest for digital payments modernisation,” commented Santhosh Rao, senior vice president, MEASA, ACI Worldwide. Our flexible, agile and innovative payment software solutions will now be available to banks, financial institutions and merchants across the region. AFS is now in a strong position to support all customers in the region on their quest for digital transformation and innovation, while enabling the resiliency and service quality required by next-generation payment systems.”--TradeArabia News Service