Business and Economy

Interswitch gains strategic partnership with ACI Worldwide to modernize payments in Sub Saharan Africa

Interswitch Group, Africa’s integrated payments and digital commerce company, and ACI Worldwide, a global player in mission-critical, real-time payments software, have announced a new chapter in their 20-year relationship that elevates Interswitch’s relationship with ACI from reseller to strategic partner status across multiple markets in Sub-Saharan Africa.

Through the innovative Enterprise Payments Platform from ACI, the agreement will allow banks, fintechs, and other financial institutions in the area to gradually update and change their payments infrastructure.

Because of this partnership, Interswitch will be able to quickly adapt its technology stack to the full suite of payment solutions included in the ACI Enterprise Payments Platform, allowing banks and other financial institutions in Africa to comply with new regulations, face fresh competition, and keep up with rapidly changing market trends.

All of the features of ACI Issuing, ACI Low Value Real-Time Payments, ACI Acquiring, ATM and Self-Service Banking, and ACI Fraud Management are combined into the ACI Enterprise Payments Platform, which serves as an end-to-end payments hub solution for retail and wholesale payments. With the help of the solution, banks can satisfy the demands of their customers and future-proof their payment infrastructure for all payment types, including corporate, merchant, and consumer payments.

Interswitch, a longtime strategic partner of ACI, will provide fresh, cutting-edge goods and services in Nigeria and thirty other Sub-Saharan African markets. In these markets, the payments industry is undergoing an unparalleled transformation and is expected to grow significantly more in the future due to rising rates of youth unemployment, increased digitization, and progressive regulatory policies.

Thomas Warsop, President and CEO of ACI Worldwide, stated, “We are delighted to announce the extension of our long-term partnership with Interswitch.” Banks and other financial institutions throughout the continent will now have access to our inventive, adaptable, and quick payment software solutions. We are now in a great position to support all stakeholders on their quest for digital transformation and innovation while enabling the resiliency and service quality required by next-generation payment systems, because we have committed to a long-term investment in Africa and have been working with local partners and experts.

Mitchell Elegbe, the founder/group managing director & CEO of Interswitch, said, “We are excited about our new strategic partnership with ACI Worldwide, which essentially consolidates our 20-year relationship across Sub-Saharan Africa.” “It is essential to provide sustainable payment infrastructure to meet the rising demand for transactions, given the ongoing development of real-time and digital payments. By implementing pertinent digital solutions and cutting-edge infrastructure that maximize company efficiency and propel our clients’ expansion and profitability, Interswitch and ACI are dedicated to advancing digital transformation throughout Africa.

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