Zimswitch teams up with ACI Worldwide to combat payment fraud in Zim

Zimbabwe’s leading electronic payments switch, Zimswitch, has partnered with ACI Worldwide, a global innovator in payment technology, to bolster the country’s digital payment security.

Through this collaboration, Zimswitch will leverage ACI’s cutting-edge Fraud Management and Payments Intelligence solution to enhance its fraud prevention and management capabilities.

This move signifies Zimswitch’s commitment to providing a secure and reliable payments infrastructure for Zimbabwe’s financial institutions and consumers.

As the use of electronic payments continues to grow, so do the threats of fraud. Zimswitch recognizes this challenge and is taking proactive steps to address it.

“With the increasing popularity of electronic payments, Zimbabwe faces a growing risk of fraudsters exploiting new digital channels with sophisticated tactics,” said Zabron Chilakalaka, CEO of Zimswitch.

“ACI’s advanced fraud management solution aligns perfectly with our dedication to offering the highest levels of security and protection to our clients. This collaboration strengthens our ability to meet the evolving security demands of the dynamic payments landscape.”

Longstanding partnership with enhanced security

Since 2007, Zimswitch has relied on ACI’s comprehensive suite of payment processing solutions to support end-to-end retail transactions across various channels and payment types.

The seamless integration of ACI’s Fraud Management and Payments Intelligence system into Zimswitch’s existing infrastructure will provide a frictionless and secure payment experience while significantly reducing fraudulent transactions and minimizing financial losses.

The project is expected to be fully operational in early 2025.

“For decades, ACI has been a leader in AI and machine learning expertise,” said Santhosh Rao, senior vice president of MEASA at ACI Worldwide.

“Our solutions deliver precise and actionable intelligence that can predict and mitigate emerging threats.

This partnership highlights Zimswitch’s forward-thinking approach to secure payment solutions, fostering trust and paving the way for wider adoption of electronic payments across Zimbabwe.”