Since 2007, Zimswitch has been leveraging ACI’s comprehensive suite of payment processing solutions. Credit: T. Schneider/ Shutterstock.

Zimswitch, Zimbabwe’s national electronic payments technology company, has partnered with ACI Worldwide to enhance its fraud management capabilities. 

This integration is aimed at providing secure payment experience, reducing fraudulent transactions, and minimisng financial losses for the stakeholders involved. 

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The partnership will see the implementation of ACI’s Fraud Management and Payments Intelligence solution into Zimswitch’s current payment infrastructure. 

The project is anticipated to launch in early 2025. 

Since 2007, Zimswitch has been leveraging ACI’s comprehensive suite of payment processing solutions supporting end-to-end retail transactions across several channels and payment methods.  

Zimswitch links a network of banks, financial institutions, and mobile platforms, facilitating fast, secure, and seamless electronic payments across Zimbabwe.  

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With the country’s growing adoption of electronic payments, Zimswitch claims to process over 75% of all card-based transactions in Zimbabwe.  

In 2020, the Reserve Bank of Zimbabwe designated Zimswitch as the national payment switch. 

Zimswitch CEO Zabron Chilakalaka said: “With electronic payments becoming ubiquitous, Zimbabwe faces escalating fraud threats as bad actors exploit new digital channels with sophisticated tactics to target vulnerabilities in rapidly growing digital payment channels.  

“ACI’s cutting-edge fraud management solution aligns with our unwavering commitment to provide our customers with the highest levels of security and fraud protection to meet the evolving security demand in this dynamic payment landscape.” 

ACI Worldwide MEASA senior vice president Santhosh Rao said: “With decades of AI and machine learning expertise, ACI has unrivalled capabilities in delivering precise and actionable intelligence that can predict and mitigate emerging threats.  

“This project is a testament to Zimswitch’s forward-looking approach to delivering innovative and secure payment solutions that build trust and pave the way for wider adoption of electronic payments across Zimbabwe.”