ACI Worldwide Collaboration with Hi-Pay is a Growth Catalyst for Mongolia’s Emerging Payments Ecosystem
- 16.04.2020 08:04 am
ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic payment and banking solutions, today announced that High Payment Solutions LLC (Hi-Pay) has successfully launched its new payments hub using multiple ACI solutions to create Mongolia’s first payments gateway service. ACI’s technology gives Hi-Pay a foundational platform upon which it can build a range of new products and services.
Hi-Pay selected ACI’s UP eCommerce Payments solution with its integrated secure payments gateway and fraud management capabilities, and connected with ACI’s UP Real-Time Payments solution, to provide a modern and internationally compatible payments system for the Mongolian market, which depends primarily on the domestic T-Card bank network. In addition to supporting the existing T-Card network, Hi-Pay will enable alternative payment methods such as Alipay and WeChat Pay, making these payment methods available through its own mobile wallet and merchant loyalty scheme.
ACI’s platform-based, open payments architecture provides Hi-Pay with the solutions needed to power its own mobile wallet for the domestic market, including QR code payments, and connect to global card schemes and payment methods to drive secure cross-border eCommerce. Through its implementation of ACI’s UP Real-Time Payments solution, Hi-Pay is well positioned to connect to real-time payment schemes in the broader region and respond to payments infrastructure modernization in its domestic market.
“A growing number of Mongolian consumers are regularly shopping online, utilizing both domestic and cross-border eCommerce platforms to access an ever-expanding range of products,” said Battulga Naranbat, CEO, Hi-Pay. “However, consumers need access to secure and reliable payment methods to shop domestically and across global platforms and marketplaces. ACI has a proven track record in helping payment service providers to scale and expand globally.”
“Through its flexible implementation of our immediate payments and secure eCommerce solutions, Hi-Pay is ideally positioned to lead the development of Mongolia’s payments ecosystem and connect it with the wider region—and the rest of the world—through global real-time payment initiatives,” said Leslie Choo, Managing Director – Asia, ACI Worldwide. “ACI’s extensive global network of payment endpoints gives Hi-Pay the technical connectivity and the adaptability needed to evolve with its market, easily adding relevant payment methods in the future.”
ACI has an unmatched global customer base of financial institutions and payment service providers using its real-time payments solution around the world, including live customers in Australia, Singapore, Thailand, Malaysia, Europe and throughout North America. ACI’s integrated payments gateway and risk management solution gives merchants access to an extensive global payments network for cross-border payment processing and local acquiring solutions, coupled with advanced business intelligence and sophisticated real-time fraud prevention.