Real-time payments software provider ACI Worldwide has launched an integrated network that connects merchants to a single hub for global and regional digital wallets.
Merchants can enable ACI Wallet Hub via simple API integration with ACI’s payments orchestration platform, providing access to over 200 digital wallets across 70 countries, the company said in a statement.
The new wallet hub is expected to save time and money on developing, managing and maintaining digital wallet integrations whilst eliminating the hassle of integration to multiple wallet providers. It also future proofs against changing technical and compliance requirements, the company said.
The launch comes as consumer use of digital wallets continues to increase worldwide. More than half of consumers (52.7%) held and used a digital wallet in 2021, representing a 33% increase over the last five years.
However, with the rise of popular digital wallets, merchants are increasingly having to manage multiple individual integrations and payment gateway contracts. This often results in rising costs and slows the time to market new payment experiences.
“Digital wallets are increasingly secure, flexible and convenient, with Millennials and Gen Z, in particular, embracing them as a mainstream payment method,” said Debbie Guerra, chief product officer, ACI Worldwide.
“ACI Wallet Hub enables merchants to offer customers all their preferred ways to pay to achieve greater eCommerce sales and faster growth.
Basant Singh, global head of ACI’s merchant segment added, “ACI Wallet Hub takes the complexity out of keeping up with emerging technologies and customer demand.
“It enables merchants to stay flexible and innovative without the high cost and compliance burdens associated with integrating and maintaining multiple individual digital wallets.”
……….
Subscribe to the Seamless Xtra weekly newsletter
See our latest daily updates on LinkedIn
Photo by CardMapr.nl via Unsplash
……….
