ACI Worldwide, a global leader in mission-critical, real-time payments software, today announced the launch of ACI Wallet Hub, an integrated network that connects merchants in 70+ countries to a single hub for 200+ global and regional digital wallets.
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, many merchants are forced to manage multiple individual integrations and payment gateway contracts. It increases costs and slows the time to market new payment experiences.
ACI offers extensive coverage across the wallet hub network, gaining complete access to a large and ever-growing suite of digital wallets as part of the core API so merchants can offer the alternative payments customers prefer at checkout via any channel – eCommerce, mobile apps and in-store.
“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.”
“ACI Wallet Hub takes the complexity out of keeping up with emerging technologies and customer demand,” commented Basant Singh, global head of ACI’s merchant segment. “It enables merchants to stay flexible and innovative without the high cost and compliance burdens associated with integrating and maintaining multiple individual digital wallets.”