ACI Worldwide (ACIW - Free Report) partnered with Arab Financial Services (“AFS”) to modernize digital payments for the banking domain across the Middle East and Africa.
Through this partnership, ACIW will upgrade AFS’ processes by implementing the ACI Enterprise Payments Platform. The platform will enable AFS to process every type of payment across a variety of currencies and in multiple institutions across the region. AFS currently operates in more than 20 countries and is owned by 37 banks.
Moreover, the modernization will also include the usage of the cloud to improve the retail banking experience. Additionally, AFS will use the ACI Payments Orchestration Platform. This platform manages merchant and all other bank payments across channels like in-store, online, mobile, recurring and wearables. It also optimizes payment processing and uses advanced analytics to deliver a secure experience.
ACIW Faces Stiff Competition in Digital Payments Market
For ACI Worldwide, this new partnership will help it increase its market exposure and reach in the Middle East and Africa. This new collaboration will also help it escape the competition that it faces in the United States. The company faces stiff competition from peers like American Express (AXP - Free Report) , VISA (V - Free Report) and Jack Henry and Associates (JKHY - Free Report) in payment orchestration and bill payment space.
American Express’ Accertify and VISA’s subsidiary, Cybersource, provide a range of services, such as digital identity, fraud prevention and other payment gateway solutions.
Jack Henry and Associates offers numerous services like digital bill pay solutions for both consumers and businesses. Moreover, JKHY also provides services like person-to-person payments, business-to-customer disbursement, as well as loan and credit card payments.
The digital payments market, in which ACIW operates, is also prone to rapid changes, which affects the company’s solutions and price of products. This forces it to constantly innovate and cope with price competition.
Currently, ACIW carries a Zacks Rank #4 (Sell). While AXP and JKHY carry a Zacks Rank #2 (Buy) each, Visa has a Zacks Rank #3 (Hold) at present.
Shares of ACIW, AXP, V and JKHY have returned 22.1%, 39%, 21.5% and 13.2%, respectively, in the past year. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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ACI Worldwide (ACIW - Free Report) partnered with Arab Financial Services (“AFS”) to modernize digital payments for the banking domain across the Middle East and Africa.
Through this partnership, ACIW will upgrade AFS’ processes by implementing the ACI Enterprise Payments Platform. The platform will enable AFS to process every type of payment across a variety of currencies and in multiple institutions across the region. AFS currently operates in more than 20 countries and is owned by 37 banks.
Moreover, the modernization will also include the usage of the cloud to improve the retail banking experience. Additionally, AFS will use the ACI Payments Orchestration Platform. This platform manages merchant and all other bank payments across channels like in-store, online, mobile, recurring and wearables. It also optimizes payment processing and uses advanced analytics to deliver a secure experience.
ACIW Faces Stiff Competition in Digital Payments Market
For ACI Worldwide, this new partnership will help it increase its market exposure and reach in the Middle East and Africa. This new collaboration will also help it escape the competition that it faces in the United States. The company faces stiff competition from peers like American Express (AXP - Free Report) , VISA (V - Free Report) and Jack Henry and Associates (JKHY - Free Report) in payment orchestration and bill payment space.
American Express’ Accertify and VISA’s subsidiary, Cybersource, provide a range of services, such as digital identity, fraud prevention and other payment gateway solutions.
Jack Henry and Associates offers numerous services like digital bill pay solutions for both consumers and businesses. Moreover, JKHY also provides services like person-to-person payments, business-to-customer disbursement, as well as loan and credit card payments.
The digital payments market, in which ACIW operates, is also prone to rapid changes, which affects the company’s solutions and price of products. This forces it to constantly innovate and cope with price competition.
Currently, ACIW carries a Zacks Rank #4 (Sell). While AXP and JKHY carry a Zacks Rank #2 (Buy) each, Visa has a Zacks Rank #3 (Hold) at present.
Shares of ACIW, AXP, V and JKHY have returned 22.1%, 39%, 21.5% and 13.2%, respectively, in the past year. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Only $1 to See All Zacks' Buys and Sells
We're not kidding.
Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.
Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 228 positions with double- and triple-digit gains in 2023 alone.
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