Zimswitch chooses ACI Worldwide's solution to mitigate fraud in Zimbabwe

In a bid to optimise its fraud prevention and management features, Zimswitch, Zimbabwe’s national electronic payments switch and a technology company, tapped ACI Worldwide’s solution, with the company intending to scale the security of the region’s digital payment infrastructure. In addition, the move focuses on offering higher protection and security for financial institutions and consumers in Zimbabwe.

The collaboration between ACI and Zimswitch comes a few months after the company entered into a strategic agreement with Red Hat to deliver its Enterprise Payments Platform on any cloud infrastructure. Through this move, ACI Worldwide and Red Hat worked towards enabling customers to optimise their migration to the cloud and adapt to the digital economy. Also, the two companies intended to support the advancement of payment services.

Payments fraud prevention

Connecting to a network of banks, financial institutions, and mobile platforms, Zimswitch centres its efforts on facilitating secure and optimised electronic payments across Zimbabwe through an efficient payment system. Back in 2020, the company was assigned as the region’s national payment switch, with the firm processing over 75% of all card-based transactions, according to its data. When commenting on the announcement, Zimswitch underlined that currently, Zimbabwe faces rising fraud threats as bad actors leverage new digital channels and sophisticated tactics to target vulnerabilities. By utilising ACI’s fraud management solution, Zimswitch aims to advance its commitment to offering its customers high levels of security and fraud protection to meet the evolving demand in this dynamic payment environment.

Initially, Zimswitch started using ACI’s services in 2007, with the company choosing the latter’s suite of payment processing solutions assisting end-to-end retail transactions across multiple channels and payment types. Now, ACI’s Fraud Management and Payments Intelligence solution is set to integrate into Zimswitch’s current payment infrastructure, delivering a simplified payment experience, minimising fraudulent transactions, and reducing financial losses. As per the information detailed in the press release, the project is projected to go live at the beginning of 2025.

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