ACI Worldwide is a leading provider of payment gateway technology and related services to financial institutions and businesses across the globe. The company’s roots date back to the 1970s when it was known as Applied Communications Inc. and focused on developing software for the telecom industry. In 1982, the company shifted its focus to payment processing and renamed itself to ACI Worldwide. Since then, ACI has grown to become a major player in the payment processing industry.
ACI's Early Years
In the early years, ACI primarily provided payment processing software to financial institutions. As the industry evolved, ACI expanded its offerings to include a wide range of payment gateway services such as fraud detection, risk management, and mobile payments. Today, ACI serves more than 5,000 customers in over 80 countries and processes billions of transactions annually.
ACI's Competition
As with any industry, ACI faces competition from other payment gateway providers such as NMI and Fiserv. However, ACI stands out from its competitors due to its decades-long experience in the payment processing industry and its commitment to innovation. ACI invests heavily in research and development to ensure that its customers have access to the latest and most advanced payment gateway technology.
ACI's Parent Company
In 2021, ACI Worldwide was acquired by PE firm, Advent International for $7bn. Advent International is a leading global private equity firm with over 30 years of experience investing in and building successful businesses. The acquisition of ACI Worldwide is expected to provide the company with the resources it needs to continue to grow and expand its offerings.
ACI Worldwide has come a long way since its early days as a telecom software provider. Today, it is a leading payment gateway provider that serves businesses and financial institutions around the world. Despite facing competition from other payment gateway providers such as NMI and Fiserv, ACI has managed to maintain its position as an industry leader due to its commitment to innovation and its decades-long experience in the payment processing industry. With the support of its new parent company, Advent International, ACI is poised for continued success and growth in the years to come.
