This post was originally published on Finextra (Security)
ACI Worldwide (NASDAQ: ACIW), an original innovator in global payments technology, have announced that Zimswitch, Zimbabwe’s national electronic payments switch and a leading payments technology company, has chosen ACI’s Fraud Management and Payments Intelligence solution to enhance its fraud prevention and management capabilities.
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Through this implementation, Zimswitch aims to bolster the security of Zimbabwe’s digital payment infrastructure and provide an elevated level of protection and security for financial institutions and consumers.
Zimswitch connects a network of banks, financial institutions and mobile platforms to facilitate fast, secure and seamless electronic payment across the country through a robust and efficient payment infrastructure. In 2020, the Reserve Bank of Zimbabwe designated Zimswitch as the national payment switch. The company processes more than 75% of all card-based transactions in Zimbabwe, reflecting the country’s increasing adoption of electronic payments.
“With electronic payments becoming ubiquitous, Zimbabwe faces escalating fraud threats as bad actors exploit new digital channels with sophisticated tactics to target vulnerabilities in rapidly growing digital payment channels,” said Zabron Chilakalaka, CEO of Zimswitch. “ACI’s cutting-edge fraud management solution aligns with our unwavering commitment to provide our
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