ACI Worldwide & Mexipay team to boost instant payments adoption

By Gloria Methri

ACI Worldwide and FinTech Mexipay have extended their partnership to enhance Mexico’s real-time payments ecosystem. The aim is to drive the adoption of instant payments and boost 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 offer additional features such as Request to Pay and Alias management. This will provide 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.

“We are excited to extend our partnership with Mexipay to bring the benefits of real-time payments to the Mexican economy,” said Alberto Olivares, head of Latin America, ACI Worldwide. “Latin America is one of the most exciting growth regions for our company. Partnering with FinTechs and new market entrants is crucial to drive the advancement of real-time payment ecosystems. Mexico has a fantastic opportunity to maximize the use of its real-time rails and replicate the success of other countries in the region to drive economic growth and financial inclusion.”

“We are proud to be partnering with ACI Worldwide, the global leader in real-time payments technology and software,” said Fabian Uribe, co-founder and CEO of Mexipay. “This is a transformational partnership that will optimize Mexipay’s technological and market penetration capabilities to help government, public, and private sectors to advance the use of real-time payments in Latin America.”

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, FinTech, and other payment service providers.