Partnership between ACI Worldwide and iNet Expanded for Fintech Development Boost in Saudi Arabia
## ACI Worldwide and iNet Partner to Drive Fintech Innovation in Saudi Arabia
The strategic partnership between **ACI Worldwide** and **iNet** is set to revolutionize the digital payments landscape in Saudi Arabia. Since 2006, iNet has been a customer of ACI, and this collaboration is now entering a new phase, focused on fueling fintech innovation in the Kingdom.
At the heart of this partnership is ACI's **Retail Payment Solutions (RPS) for Postilion platform**, a technology designed to support the Kingdom's ambition to showcase cutting-edge innovation in digital infrastructure. This platform, which is already deployed across two PCI-compliant data centers in Saudi Arabia, offers high availability and minimizes service disruptions through its active-active infrastructure.
iNet, Saudi Arabia's first independent Network Service Provider (NSP) licensed by the Saudi Central Bank (SAMA), will use the RPS platform to manage a robust Point of Sale (POS) network. This network will facilitate omnichannel transactions, including SoftPOS, QR payments, link-based payments, and digital wallets, catering to the growing demand for digital payments in the country.
The partnership is crucial for Saudi Arabia's Vision 2030, which aims to reduce cash transactions by 50% by 2030. iNet intends to scale its operations aggressively, leveraging ACI's technology to support a growing merchant base ranging from small businesses to global enterprises.
Alexis Haessler, Regional Head of ACI Worldwide, commented that the partnership with iNet aims to simplify payments, unlock new growth opportunities, and support the Kingdom's journey towards a digital-first economy. Turki Almadi, Executive Vice President of iNet, stated that the partnership combines iNet's deep local expertise with ACI's advanced acquiring technology.
The collaboration supports Saudi Arabia's broader economic diversification goals by promoting digital payments and reducing reliance on cash transactions. The partnership is also poised to enhance real-time payments and digital infrastructure, positioning iNet as a strategic technology partner for major events like Saudi Arabia's FIFA World Cup 2034.
In summary, the partnership between ACI Worldwide and iNet is powering a modern, inclusive, and future-ready financial ecosystem in Saudi Arabia, driving payment innovation and supporting the Kingdom's Vision 2030 goals.
[1] Saudi Central Bank (SAMA) - https://www.sama.gov.sa/ [2] Vision 2030 - https://www.saudiarabia.visitherefirst.com/en/about-saudi-arabia/vision-2030 [3] FIFA World Cup 2034 - https://www.fifa.com/worldcup/womens/2034/index.html [4] Saudi Arabia's Economic Diversification - https://www.saudieconomy.gov.sa/en/home
- The collaboration between ACI Worldwide and iNet, as mentioned in ffnews.com, will utilize technology in the areas of finance and business, particularly ACI's Retail Payment Solutions, to enhance Saudi Arabia's fintech innovation and digital infrastructure, aligning with their Vision 2030 goals.
- The strategic partnership between ACI Worldwide and iNet, a key player in Saudi Arabia's technology sector, will focus on the advancement of digital payments, encompassing technology domains such as business, finance, and technology, in preparation for major events like the FIFA World Cup 2034.
