ACI Worldwide, Kuvasz Solutions extend partnership

Real-time payments software ACI Worldwide has announced the expansion of its partnership with payment services provider Kuvasz Solutions

Real-time payments software ACI Worldwide has announced the expansion of its partnership with payment services provider Kuvasz Solutions . Through this collaboration, ACI Worldwide and Kuvasz Solutions intend to advance the adoption of Colombia’s new domestic real-time payments ecosystem, which was announced by the former and the Colombian Central Bank in December 2023.

The two companies have been partnered for approximately ten years in Latin America, with both of them supporting the delivery and implementation of ACI’s payment software solutions to strategic clients across the payments landscape. ACI Worldwide - Kuvasz Solutions collaboration objectives By expanding their partnership, ACI Worldwide and Kuvasz Solutions intend to provide several advantages to market participants in Colombia. Through Kuvasz Solutions’ knowledge of implementing ACI’s technology, the two companies focus on allowing participants to benefit from the efficient and secure performance of the latter’s immediate payment solutions.

Additionally, ACI’s insight into Latin America aims to enable the company to adapt the new offering to the demands and needs of local participants. According to ACI Worldwide’s officials, the extension of the company’s alliance with Kuvasz Solutions plans to support the rapid adoption of the new scheme by banks, fintech enterprises, and merchants across the region. This aims to provide Colombian businesses and consumers with the capabilities of real-time payments, including economic development and financial inclusion.

Moreover, the partnership is set to serve as a template for upcoming implementations in the region, which intends to solidify Colombia’s position in real-time payments adoption in Latin America. Furthermore, representatives from Kuvasz Solutions underlined that their company’s experience and knowledge focus on supporting a more inclusive financial future, where secure real-time payment transactions can be provided to all Colombian citizens. Currently, ACI Worldwide assists 26 domestic and pan-regional real-time schemes across six continents, offering solutions to central banks, participant banks, fintechs, and other payment service providers. At a global level, the company covers nearly one-third of the countries that provide real-time payment services, reaching individuals served by various organisations such as central governments, payment networks, banks, financial institutions, and fintech companies.

ACI Worldwide’s recent developments In addition to extending its alliance with Kuvasz Solutions, ACI Worldwide recently entered several collaborations to advance its development strategy. For example, at the beginning of February 2023, the company collaborated  with RYVYL EU to support merchants across CEE in increasing their revenues. The partnership was set to assist merchants' operations across the region in expanding their revenues through rising transaction conversion rates. Also, RYVYL EU was set to board its ecommerce merchants and PSP customers onto the ACI Payments Orchestration Platform, enabling them to orchestrate payments by using a single solution, platform, and API integration for optimal conversion rates at a minimal operational cost.


Feb 29, 2024 07:39
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