The innovative user interface enhances acceptance rates and serves a broader base of customers traditionally overlooked, boosting merchant sales worldwide.

For merchants and PSPs, ACI PayAfter offers one application and a single contract that reduces the complexity and cost of integration, as well as faster speed to market, and actionable customer intelligence.

ACI PayAfter gives consumers one BNPL option—ACI PayAfter—displayed at checkout, one application form, and a single credit check, all while providing access to multiple financing options that best meet their needs quickly and with a higher probability of approvals. It eliminates the inconvenience of completing multiple loan application forms that garner multiple credit checks by BNPL lenders, which eventually leads to cart abandonment.

Studies show that 63 percent of Millennial and Gen Z consumers don't own credit cards and make up 40 percent of all consumers globally. At the same time, 42 percent of Gen Z and 69 percent of Millennials are more likely to purchase items if a BNPL option is offered. With ACI PayAfter, merchants and PSPs can present their customers with multiple financing options and higher approval rates than the market currently provides today.

"With ACI PayAfter, merchants and PSPs can provide their customers with a more inclusive experience and a wider choice of BNPL options that suit their needs, leading to fewer abandoned carts," said Andrew Quartermaine, vice president, ACI Worldwide. "The BNPL market locks out approximately 40 to 50 percent of potential consumers, including the younger generations who aren't interested in owning credit cards and the unbanked and underbanked population, many of whom are credit-worthy customers."

"ACI's single interface further democratizes payments by reducing the barriers to access for consumers who aren’t traditionally served by the financial system. With a portfolio of more than 70 BNPL providers, which we expect to expand to hundreds of providers, advances the consumer experience through a simpler checkout process and better approval rates, which leads to higher conversion for merchants and PSPs," Quartermaine continued.

ACI PayAfter provides merchants and PSPs with the flexibility to select the BNPL and financing options that are most relevant for their business and their customers.

"ACI partners with several BNPL players around the world. Being part of the ACI PayAfter network means that BNPL providers can take advantage of the opportunities for growth given ACI's vast global reach," Quartermaine concluded.

ACI PayAfter will be available to merchants using ACI Secure eCommerce and ACI Omni-Commerce.