ACI Worldwide extends partnership with Boots for payments modernization
Category: #retail  By Pankaj Singh  Date: 2021-03-08
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ACI Worldwide extends partnership with Boots for payments modernization

Leading real-time digital payments solution provider ACI Worldwide has recently announced an extension of its partnership with pharmacy-led health and beauty retailer Boots, in an effort to drive payments modernization. Under the terms of the agreement, Boots UK will use ACI’s secure omni-channel P2PE payments platform, ACI Omni-Commerce, to provide its users a consistent, seamless and secure payments experience across all channels, including mobile, in-store and online.

Many retailers, especially in the drugstore and grocery sector have started refocusing their efforts towards digital transformation of their businesses, in light of the rapid upsurge in ecommerce sales triggered by the COVID-19 pandemic. With this extended partnership with ACI, Boots will have access to a flexible payments service, which will enable them to offer customers new methods of payment, as well as ensure speedier responses to future demands, across both online and in-store channels.

The multi-layered fraud strategy of the solution will also provide significant benefits to Boots. It makes use of a combination of profiling, machine learning, consortium payments intelligence and rules, which allows retailers to optimize payment acceptance, while simultaneously mitigating chargeback costs and fraud.

Andrew Quartermaine, ACI Worldwide’s Vice President has reportedly stated that the company has observed several fundamental changes in the behavior of consumers over the last year, especially with respect to payments and shopping. According to Quartermaine, customers are increasingly shopping across multiple channels, including online and in-store, and are demanding more variety in payment solutions. He added that retailers need to take heed of these developments, and help customers navigate cross-channel experiences, with advanced offerings such varied payment options and click-and-collect.

With ACI’s new solution, Boots will also be able to comply with the requirements of SCA (Strong Customer Authentication), a new European security standard applicable to online payments, which was put into effect in January 2021. ACI Omni-Commerce is designed to offer support to merchants in their SCA checks, as well as to reduce disruptions in the payments process, thereby facilitating a high number of completed transactions.

Source Credit: https://www.businesswire.com/news/home/20210307005022/en



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Pankaj Singh

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Pankaj Singh

Pankaj Singh Develops content for Market Size Forecasters, Algosonline, and a couple of other platforms. A Post Graduate in Management by qualification, he worked as an underwriter in the UK insurance domain before deciding to switch his field of profession. With exp...

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