ACI Worldwide Collaboration with Hi-Pay is a Growth Catalyst for Mongolia’s Emerging Payments Ecosystem
April 15 2020 - 3:00AM
Business Wire
ACI solutions underpin Mongolia’s first
payments gateway service as the country embraces domestic and
cross-border eCommerce
ACI Worldwide (NASDAQ: ACIW), a leading global provider of
real-time electronic payment and banking solutions, today announced
that High Payment Solutions LLC (Hi-Pay) has successfully launched
its new payments hub using multiple ACI solutions to create
Mongolia’s first payments gateway service. ACI’s technology gives
Hi-Pay a foundational platform upon which it can build a range of
new products and services.
Hi-Pay selected ACI’s UP eCommerce Payments solution with its
integrated secure payments gateway and fraud management
capabilities, and connected with ACI’s UP Real-Time Payments
solution, to provide a modern and internationally compatible
payments system for the Mongolian market, which depends primarily
on the domestic T-Card bank network. In addition to supporting the
existing T-Card network, Hi-Pay will enable alternative payment
methods such as Alipay and WeChat Pay, making these payment methods
available through its own mobile wallet and merchant loyalty
scheme.
ACI’s platform-based, open payments architecture provides Hi-Pay
with the solutions needed to power its own mobile wallet for the
domestic market, including QR code payments, and connect to global
card schemes and payment methods to drive secure cross-border
eCommerce. Through its implementation of ACI’s UP Real-Time
Payments, Hi-Pay is well positioned to connect to real-time payment
schemes in the broader region and respond to payments
infrastructure modernization in its domestic market.
“A growing number of Mongolian consumers are regularly shopping
online, utilizing both domestic and cross-border eCommerce
platforms to access an ever-expanding range of products,” said
Battulga Naranbat, CEO, Hi-Pay. “However, consumers need access to
secure and reliable payment methods to shop domestically and across
global platforms and marketplaces. ACI has a proven track record in
helping payment service providers to scale and expand
globally.”
“Through its flexible implementation of our immediate payments
and secure eCommerce solutions, Hi-Pay is ideally positioned to
lead the development of Mongolia’s payments ecosystem and connect
it with the wider region—and the rest of the world—through global
real-time payment initiatives,” said Leslie Choo, Managing Director
– Asia, ACI Worldwide. “ACI’s extensive global network of payment
endpoints gives Hi-Pay the technical connectivity and the
adaptability needed to evolve with its market, easily adding
relevant payment methods in the future.”
ACI has an unmatched global customer base of financial
institutions and payment service providers using its real-time
payments solution around the world, including live customers in
Australia, Singapore, Thailand, Malaysia, Europe and throughout
North America. ACI’s integrated payments gateway and risk
management solution gives merchants access to an extensive global
payments network for cross-border payment processing and local
acquiring solutions, coupled with advanced business intelligence
and sophisticated real-time fraud prevention.
About ACI Worldwide ACI Worldwide, the Universal Payments (UP)
company, powers electronic payments for more than 6,000
organizations around the world. More than 1,000 of the largest
financial institutions and intermediaries, as well as thousands of
global merchants, rely on ACI to execute $14 trillion each day in
payments and securities. In addition, myriad organizations utilize
our electronic bill presentment and payment services. Through our
comprehensive suite of software solutions delivered on customers’
premises or through ACI’s private cloud, we provide real-time,
immediate payments capabilities and enable the industry’s most
complete omni-channel payments experience. To learn more about ACI,
please visit www.aciworldwide.com. You can also find us on Twitter
@ACI_Worldwide.
© Copyright ACI Worldwide, Inc. 2020 ACI, ACI Worldwide, the ACI
logo, ACI Universal Payments, UP, the UP logo and all ACI
product/solution names are trademarks or registered trademarks of
ACI Worldwide, Inc., or one of its subsidiaries, in the United
States, other countries or both. Other parties' trademarks
referenced are the property of their respective owners.
Product roadmaps are for informational purposes only and may not
be incorporated into a contract or agreement. The development
release and timing of future product releases remains at ACI’s sole
discretion. ACI is providing the following information in
accordance with ACI's standard product communication policies. Any
resulting features, functionality, and enhancements or timing of
release of such features, functionality, and enhancements are at
the sole discretion of ACI and may be modified without notice. All
product roadmap or other similar information does not represent a
commitment to deliver any material, code, or functionality, and
should not be relied upon in making a purchasing decision.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200415005084/en/
Dan Ring E-mail: dan.ring@aciworldwide.com Phone: +1 (781)
370-3600
Christopher Taine (APAC/EMEA) E-mail:
christopher.taine@aciworldwide.com Phone: +49 (0) 89 45230 128
ACI Worldwide (NASDAQ:ACIW)
Historical Stock Chart
From Aug 2024 to Sep 2024
ACI Worldwide (NASDAQ:ACIW)
Historical Stock Chart
From Sep 2023 to Sep 2024