ACI Worldwide, a global real-time payments software, has announced a strategic partnership with Arab Financial Services (AFS), the region's digital payment solutions provider and fintech enabler, aiming to reform the digital payments landscape across the Middle East and Africa.

Digital Payment Solutions across the Middle East and Africa

Regulated by the Central Bank of Bahrain and boasting ownership by 37 banks and financial institutions, AFS serves over 60 clients across more than 20 countries in the region. The company's portfolio encompasses an array of digital payment products and services, including card processing, merchant acquiring, fintech solutions, and value-added services.

Santhosh Rao, the Senior Vice President of MEASA at ACI Worldwide, commented: “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.”

Under the terms of this transformative 10-year partnership, AFS will leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term ACI's Enterprise Payments Platform, a versatile transaction processing solution renowned for its security features, flexible cloud-ready architecture, and multi-language, multi-currency capabilities. By harnessing this platform, AFS aims to spearhead a modernization drive within the retail banking sector, empowering its banking and fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term clientele with enhanced capabilities and efficiency.

ACI Worldwide and Arab Financial Services To Drive Payments Modernization - $WTK ?

Interesting to see AFS and ACI now team up

I have felt both connected to $WTK in their own way and now here they are coming together 🤔https://t.co/PTx5lv4UsK https://t.co/cvUKPLtczg pic.twitter.com/TNrfD5iU4e

— WTKme (@grge4t345ht) April 1, 2024

Streamlining Payment Processes: AFS and ACI Collaboration

Furthermore, AFS is set to deploy ACI's Payments Orchestration Platform, a solution designed to streamline payment processes for merchants. This platform promises a seamless integration experience through a unified API interface, optimizing conversion rates while minimizing operational overheads. By adopting this technology, merchants and payment service providers will be able to deliver enhanced customer experiences characterized by both convenience and security.

"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 empower our customers with cutting-edge technology that streamlines operations, fosters growth and unlocks new levels of profitability,” said Samer Soliman, the CEO at Arab Financial Services.