Cyberfraud fighters in the MENA regions gained new allies this week. ACI Worldwide has announced that it will collaborate with HyperPay to offer integrated, real-time fraud prevention solutions for e-commerce payments for merchants in the Middle East and North Africa.
The need for ever-more capable fraud fighting technology is a key factor in ensuring the growth of – and trust in – e-commerce. And the MENA region is no exception. “While the growth opportunity is considerable, we also know that merchants need to protect their revenues and secure their transactions, as well as be responsive to the evolving threat of fraud,” HyperPay CEO Muhannad Ebwini said. He added that ACI’s Universal Payments solutions – including UP Payments Risk Management – “perfectly complement our local knowledge and experience” and that he “fully trust(s) ACI to deliver a sophisticated, real-time fraud detection and prevention solution that protects our customers.”
Left to right: Wolfgang Berner (Director, Product Global eCommerce), Christian Schonhuth (Solution Consultant), and Grit Ruehling (Sr. Product Manager) during their presentation Simple, Global, and Secure eCommerce Payments with ACI Worldwide’s Next Generation API.
Echoing Ebwini’s sentiments, Manish Patel, ACI Worldwide GM for the Middle East, Africa, and South Asia, also underscored the importance of trust. “eCommerce in the MENA region is growing rapidly, as consumers move from cash-based transactions to using cards and other online payment methods,” Patel explained. “As this shift – with mobile acting as an additional catalyst – gathers pace, retailers need to gain the trust of consumers and protect themselves against the risk of fraud across multiple channels.”
A major MENA area payments service provider HyperPay uses ACI’s UP eCommerce Payments solutions to provide cross-border payments services. This week’s news means HyperPay will open access to ACI’s UP Payments Risk Management solution, as well. The Risk Management technology leverages adaptive machine learning and a “shared intelligence approach” that also takes advantage of the insights gained from global risk analysts to refine fraud-fighting strategies for e-commerce merchants and PSPs.