ACI Worldwide (NASDAQ:ACIW) and Mexipay Expand Partnership to Boost Mexico’s Real-Time Payments Ecosystem

2 min read | August 27, 2024 06:14 AM EDT | By Team Kalkine Media

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ACI Worldwide (NASDAQ:ACIW) and Mexipay Expand Partnership to Boost Mexico’s Real-Time Payments Ecosystem — Image source: Shutterstock

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ACI Worldwide (NASDAQ:ACIW), a pioneer in global payments technology, and Mexipay, a prominent Mexican fintech firm, have announced an extension of their partnership aimed at enhancing Mexico’s real-time payments ecosystem. This collaboration is set to drive the adoption of instant payments while fostering economic growth and improving financial inclusion across the country.

Under this extended partnership, Mexipay will leverage ACI’s Digital Central Infrastructure solution, which is part of the acclaimed ACI Enterprise Payments Platform. This advanced platform, built on the globally recognized ISO 20022 standard, is designed to address the growing demand for sophisticated real-time payment services. The integration will bring additional functionalities such as Request to Pay and Alias management, opening new avenues for payments and revenue generation for participants in Mexico’s financial ecosystem.

According to ACI’s latest Prime Time for Real-Time report, Mexico processed 3.8 billion real-time payments in 2023, positioning it as the 10th largest real-time payments market globally. Despite this significant volume, Mexico's real-time payments growth rate is relatively slow compared to other Latin American countries, with a projected compound annual growth rate (CAGR) of 7.8% from 2023 to 2028.

The extension of this partnership comes at a critical time as Mexico seeks to accelerate the adoption of real-time payments and overcome the growth challenges it faces. By integrating ACI’s cutting-edge technology, Mexipay aims to modernize its payment infrastructure and offer enhanced services to businesses and consumers alike. These advancements are expected to facilitate faster transactions, reduce costs, and drive greater financial inclusion.

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