ACI expands in Egypt

Article Excerpt

ACI WORLDWIDE $34.03 (Nasdaq symbol ACIW; TSINetwork Rating: Extra Risk) (402-390-7600; www.aciworldwide.com; Shares outstanding: 110.6 million; Market cap: $3.8 billion; No dividends paid) makes software for processing transactions by credit cards, debit cards, automated teller machines, point-of-sale terminals and interbank systems. Its products also work to cut fraud. The company continues to sign contracts with a wide range of clients in key markets. That now include Egyptian Banks Company. The firm is the central domestic infrastructure provider for payments in Egypt. It’s been an ACI customer for more than 20 years. Egyptian Banks Company connects 38 member banks, and now aims to bring digital innovation to the country’s banking system. This includes support for point-of-sale and e-commerce transactions, as well as fraud detection. ACI Worldwide is a hold. hold…

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