Fintech Firm ACI Worldwide Teams Up with MagicCube to Deliver Tap To Pay Acceptance

CIOTechOutlook Team | Monday, 24 April 2023, 12:02 IST

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To provide secure and convenient contactless payments on commercial off-the-shelf (COTS) smartphones and tablets utilising Tap to Pay—with or without PIN—ACI Worldwide (NASDAQ: ACIW), a global pioneer in mission-critical, real-time payments, has partnered with MagicCube, the developer of i-AcceptTM. The system will offer device-agnostic control and visibility of transaction data to mid-sized and big shops operating in complicated contexts. This follows the statement by MagicCube that it will be opening up its platform to big-box retailers.
 
Multi-acquirer and multi-merchant support from a single platform, as well as direct integration into complex systems without affecting the scope or certification of the Payment Card Industry (PCI) Data Security Standard, are some of the new ACI features provided by i-Accept. Additionally, the system provides versatile message translation across several standards and acceptance rule management across numerous locales.
 
"We are proud to launch our partnership with MagicCube to expand their industry-leading offering for growth beyond traditional and legacy payment terminals," said Basant Singh, head of ACI Worldwide's merchant segment. "ACI's Payments Orchestration Platform gives thousands of merchants and payment service providers globally the tools and technology to increase conversion rates and grow their business by making payments part of a smooth, seamless, and secure customer journey."
 
With the use of i-Accept, financial services organisations may give large shops and merchants the ability to accept contactless payments from credit cards and mobile wallets like Apple Pay, Google Pay, and Samsung Pay. Unusually, i-Accept allows Buy Now, Pay Later programmes and adapts to regional card schemes and cryptocurrency wallets. Additionally, it enables secure PIN capture on a COTS device screen without the need to shuffle or scramble the PIN entry device keys, improving the customer's transaction experience and increasing its efficiency.
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