ACI solutions underpin Mongolia’s first payments gateway service as the country embraces domestic and cross-border eCommerce
ACI Worldwide, a leading global provider of real-time electronic payment and banking solutions, announced that High Payment Solutions LLC (Hi-Pay) has successfully launched its new payments hub using multiple ACI solutions to create Mongolia’s first payments gateway service. ACI’s technology gives Hi-Pay a foundational platform upon which it can build a range of new products and services.
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ACI Worldwide collaboration with Hi-Pay is a growth catalyst for Mongolia’s emerging payments ecosystem
Hi-Pay selected ACI’s UP eCommerce Payments solution with its integrated secure payments gateway and fraud management capabilities and connected with ACI’s UP Real-Time Payments solution, to provide a modern and internationally compatible payments system for the Mongolian market, which depends primarily on the domestic T-Card bank network. In addition to supporting the existing T-Card network, Hi-Pay will enable alternative payment methods such as Alipay and WeChat Pay, making these payment methods available through its own mobile wallet and merchant loyalty scheme.
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ACI’s platform-based, open payments architecture provides Hi-Pay with the solutions needed to power its own mobile wallet for the domestic market, including QR code payments, and connect to global card schemes and payment methods to drive secure cross-border eCommerce. Through its implementation of ACI’s UP Real-Time Payments, Hi-Pay is well-positioned to connect to real-time payment schemes in the broader region and respond to payments infrastructure modernization in its domestic market.
“A growing number of Mongolian consumers are regularly shopping online, utilizing both domestic and cross-border eCommerce platforms to access an ever-expanding range of products,” said Battulga Naranbat, CEO, Hi-Pay. “However, consumers need access to secure and reliable payment methods to shop domestically and across global platforms and marketplaces. ACI has a proven track record in helping payment service providers to scale and expand globally.”
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