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bitcoin
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ACI Worldwide and BitPay Partner to Power Global Crypto and Stablecoin Payments

Highlights:

  • ACI Worldwide and BitPay enter into a global partnership to promote the adoption of crypto payments.
  • Merchants will be able to access both fiat and stablecoin settlement of global transactions.
  • The collaboration enhances innovation in digital assets and cross-border commerce.

ACI Worldwide, a global leader in payments, has partnered with BitPay, the largest cryptocurrency payments processor globally, to introduce crypto payments to global commerce. This strategic alliance allows merchants to receive cryptocurrencies and stablecoins through a single interface. With increasing demand for digital assets, merchants require readily available tools to handle them.

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A recent survey conducted by ACI and Payments Dive reveals that 55% of retailers worldwide now consider accepting cryptocurrencies. This trend indicates increased confidence in digital assets. Moreover, the integration facilitates fiat and stablecoin settlements, which provide businesses with more flexibility in a variety of markets.

ACI Worldwide and BitPay Advance Crypto Access

ACI Worldwide and BitPay provide merchants with a convenient solution to crypto transactions. With the Payments Orchestration Platform provided by ACI, clients receive the means of accepting and utilizing crypto in everyday operations. BitPay is able to support a broad use case, such as mobile point-of-sale and peer-to-peer payments.

Merchants can now accept, store, and spend cryptocurrencies, directly opening new sources of revenue and customer experiences. As the stablecoins enter the mainstream, businesses benefit from streamlined cross-border payments.

BitPay CEO Stephen Pair stated:

“We are making digital currencies more accessible together with ACI Worldwide. The alliance facilitates real-world commerce and international payments.”

Driving Stablecoin Adoption in Global Payments

The development is based on the ACI 2021 crypto capabilities, which introduce additional features that simplify crypto transactions. Regulated stablecoins are taking a central role in the global business models. They provide reduced prices, high speeds, and improved transparency when it comes to cross-border settlements.

This evolution is also beneficial in treasury operations. Supplier payments and treasury flows can now be performed through stablecoins by businesses. ACI and BitPay enable merchants to embrace digital assets without necessarily requiring significant infrastructure modifications by reducing entry barriers.

Adriana Iordan of ACI Worldwide highlighted the increasing ecosystem of the platform. She described that the strategy enables current use cases and their future projections, particularly in the face of changing regulations.

She further added:

“We are making sure that clients have multiple pathways to take advantage of emerging rails.”

Streamlined Payments With Long-Term Growth Potential

The orchestration model of ACI reduces the complexity involved in dealing with different payment providers. It further combines the gateways, acquirers, and payment methods into a single streamlined experience. Multi-rail setups can generally result in a 13% increase in sales by merchants, including crypto.

The integration of BitPay not only provides payment acceptance but also improves the way merchants conduct business in different parts of the world. Faster cross-border settlements imply that liquidity is enhanced and delays are reduced in financial flows.

In addition, the partnership comes at a time when stablecoin momentum across the world is gaining traction. Recently, Sui partnered with t’order in South Korea to introduce zero-fee payments with stablecoins. Similarly, Visa developed a pilot program that allows banks to remit money internationally using stablecoins.

Moreover, the ACI Worldwide and BitPay collaboration is expected to reinforce their digital payment ecosystem. Their collaboration aligns with the trend in the industry towards rail-agnostic systems. This makes global businesses prepared for the next-generation payment methods as the market demands shift.

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