Source: ACI Worldwide
ACI Worldwide, (NASDAQ: ACIW), a leading international provider of software for electronic payment systems, today announced that Simba Technology, a major Sub Sahara company based in Nairobi, Kenya, has licensed BASE24, the ACI Card Management System and ACI Proactive Risk Manager to establish an electronic payment service for banks in their region.
Simba Technology is using ACI software to offer a hosted electronic payments hub aimed primarily at banks that have not yet implemented a card payment solution. Services including payment card issuance, card account management, ATM and POS terminal driving, international and domestic transaction acquiring, and fraud monitoring will initially be available to banks in the East Africa region.
Regional banks currently entering the growing e-payments market may be reluctant to commit significant up-front investment in infrastructure when future transaction volumes are difficult to predict. The Simba service allows them to access a proven infrastructure to support their early card payment programmes without major up-front investment.
Mr. Ajit Jatania, CEO of Simba Technology Ltd., said, "This service will fill a gap in the market by providing banks, in the early stages of card payment programmes, the ability to use a world-class infrastructure on a cost-per-transaction basis. Through the payments hub, there will be no requirement for significant up-front investment in technology. The service will also provide benefits for banks with established e-payments businesses as it will enable them to lower their cost-per-transaction base and gain better efficiencies in their existing payment systems and processes."
"Simba Technology is deploying their service in one of the fastest growing consumer payment markets in the Middle East and Africa region," said Daryl Berg, general manager Sub Sahara Africa, ACI Worldwide. "We are pleased to provide Simba with a proven solution to launch their service in support of banks entering the card payments business."