Mexican fintech will leverage ACI’s Digital Central Infrastructure solution to enable new payment options.
ACI Worldwide – a specialist in transformative software solutions powering real time intelligent payments orchestration – has extended a partnership with leading Mexican fintech Mexipay to enhance Mexico’s real-time payments ecosystem.
The extended partnership aims to drive instant payments adoption and boost economic growth and financial inclusion for Mexico’s businesses and consumers.
Mexipay will utilize ACI’s Digital Central Infrastructure solution, part of the award-winning ACI Enterprise Payments Platform, to address the need for enhanced real-time payment services.
The platform will be built on the global ISO 20022 standard and will offer additional features such as Request to Pay and Alias management, providing participants with opportunities for new payments and revenue streams.
According to ACI’s latest Prime Time for Real-Time report, 3.8 billion real-time payments were processed in Mexico in 2023 – making it the 10th largest real-time payments market in the world.
But despite its head start in the region, the country is one of the slowest-growing real-time markets in Latin America, with a projected CAGR of 7.8% between 2023 and 2028.
“We are excited to extend our partnership with Mexipay to bring the benefits of real-time payments to the Mexican economy,” said Alberto Olivares, head of Latin America, ACI Worldwide.
“Latin America is one of the most exciting growth regions for our company. Partnering with fintechs and new market entrants is crucial to drive the advancement of real-time payment ecosystems. Mexico has a fantastic opportunity to maximize the use of its real-time rails and replicate the success of other countries in the region to drive economic growth and financial inclusion.”
“We are proud to be partnering with ACI Worldwide, the global leader in real-time payments technology and software,” said Fabian Uribe, co-founder and CEO of Mexipay. “This is a transformational partnership that will optimize Mexipay’s technological and market penetration capabilities to help government, public, and private sectors to advance the use of real-time payments in Latin America.”
ACI currently powers 26 domestic and pan-regional real-time schemes across six continents – including 10 central infrastructures – providing solutions to central banks, participant banks, fintechs, and other payment service providers.
Globally, ACI covers approximately one-third of the countries that offer real-time payment services, reaching about 3 billion people served by various organizations, including central governments, payment networks, banks, financial institutions and fintech companies.
Mexipay is a new-generation payment service provider specialized in offering managed services, focusing on boosting ISO 20022 real-time payments, promoting financial inclusion and evolving legacy technology.
Through its omnichannel platform built around ACI’s Enterprise Payments Platform, Mexipay provides access to small and medium banks, merchants, governments and other payment participants – pitching itself as untapping a new era of alternatives and opportunities for the complete payments ecosystem in Mexico.