ACI Worldwide, a provider of real-time electronic payment and banking solutions, and HyperPay are set to protect eCommerce payments.
The payments company has extended its relationship with HyperPay, a payment service provider in the Middle East and North Africa (MENA) region, to offer merchants integrated real-time fraud prevention for eCommerce and mobile payments.
HyperPay, which currently uses ACI’s UP eCommerce Payments for its cross-border capabilities and technical flexibility, will now provide real-time fraud detection and prevention via ACI’s UP Payments Risk Management solution.
ACI claims to address the fraud needs of merchants across sectors and verticals, with adaptive machine learning and a shared intelligence approach that leverages cross-industry knowledge and data.
Despite the MENA region’s eCommerce marketplace experiencing double-digit growth, the diversity of payments within the region presents challenges for both local and international businesses due to an increase risk of fraud.
“eCommerce in the MENA region is growing rapidly, as consumers move from cash-based transactions to using cards and other online payment methods. As this shift – with mobile acting as an additional catalyst – gathers pace, retailers need to gain the trust of consumers and protect themselves against the risk of fraud across multiple channels,” said Manish Patel, general manager, Middle East, Africa and South Asia, ACI Worldwide.
“Simple integration of new payment types and acquirers has helped HyperPay to achieve 35 percent year-on-year growth, and we are confident that with ACI’s UP Payments Risk Management solution standing behind every transaction, this strong growth can continue.”
ACI Worldwide claims to power electronic payments for more than 5,100 organizations around the world. More than 1,000 of the largest financial institutions and intermediaries, as well as thousands of global merchants, rely on ACI to execute $14trn each day in payments and securities.
Copyright © 2017 RegTech Analyst
Copyright © 2018 RegTech Analyst
