ACI Worldwide, an original innovator in global payments technology, and Mexipay, a leading Mexican financial technology company, have announced the extension of their partnership to enhance Mexico’s real-time payments ecosystem, “with the aim of driving instant payments adoption and boosting economic growth and financial inclusion for Mexico’s businesses and consumers.”
Mexipay will utilize ACI’s Digital Central Infrastructure solution, “part of the 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.”
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.”
As noted in the update, Mexipay is said to be “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 their omnichannel platform built around ACI’s Enterprise Payments Platform, Mexipay claims that it “provides access as never before to small and medium banks, merchants, governments, and other payment participants, untapping a new era of alternatives and opportunities for the complete payments ecosystem in México.”