As global engagement with digital wallets continues to rise, a new merchant solution is consolidating regional digital wallet offerings into one integrated network.
ACI Worldwide is launching ACI Wallet Hub, the real-time payments software firm’s new network of over 200 global and regional digital wallets. The offering is available to merchants in over 70 countries worldwide.
Available via API integration with ACI’s payments orchestration platform, the hub provides merchants with access to a variety of major digital wallet offerings alongside the ability to deliver native wallet checkout experiences for consumers.
The offering intends to make it easier for merchants to develop, manage and maintain digital wallet integrations while adhering to technical and compliance requirements. This is particularly notable given the increasing prevalence of digital wallet offerings worldwide.
Wallets go digital
The latest figures confirm the increasing use of digital wallets around the world. According to ACI, 2021 saw 52.7 per cent of consumers using a digital wallet. Accordingly, engagement over the last five years has increased by 33 per cent.
However, with the rise of popular digital wallets, merchants are compelled to manage multiple individual integrations and payment gateway contracts. It increases costs and slows the time to market new payment experiences.
For this reason, there’s no doubt merchants today need easy access to every leading digital wallet available to create the best checkout experiences for customers and boost sales during tough economic times.
In this way, the ACI Wallet Hub maintains a considerable network of different wallet offerings, allowing engaging merchants to offer the alternative payments customers prefer at checkout. The solution extends across e-commerce, mobile apps and in-store purchases.
“Digital wallets are increasingly secure, flexible and convenient, with millennials and Gen Z, in particular, embracing them as a mainstream payment method,” explains Debbie Guerra, chief product officer of ACI Worldwide.
“ACI Wallet Hub enables merchants to offer customers all their preferred ways to pay to achieve greater e-commerce sales and faster growth.”
Adding to these thoughts, Basant Singh, global head of ACI’s merchant segment, says the hub “takes the complexity out of keeping up with emerging technologies and customer demand.”
“It enables merchants to stay flexible and innovative without the high cost and compliance burdens associated with integrating and maintaining multiple individual digital wallets,” continues Singh