Amid an ever-changing payments landscape, real-time payments are booming, offering significant value for financial institutions. At the same time, Authorized Push Payment (APP) scam losses are on the rise. To unpack these and other key trends in payments and fraud prevention, ACI Worldwide will host an executive roadshow in Johannesburg on 24 July.
Payments threats and opportunities
According to a recent report by ACI Worldwide in partnership with the Centre for Economics and Business Research (Cebr), real-time payments are expected to contribute $285.8 billion in additional GDP growth globally and create more than 167.2 million new bank account holders by 2028. In Africa, real-time payments are projected to contribute more than $15 billion in additional GDP growth to Nigeria and South Africa by 2028, with the number of people able to access these countries’ financial systems increasing by 13.8 million and 425,000, respectively.
At the same time, APP scam losses are on the rise. According to ACI Worldwide’s latest Scamscope report, fraud losses are expected to climb to $7.6 billion by 2028 across six leading real-time payment markets (U.S., U.K., India, Brazil, Australia, and UAE). APP scammers prey on trust by deceiving individuals into willingly transferring funds to them. This trust-based manipulation makes APP scams particularly challenging to detect, as the transaction appears legitimate and bypasses traditional fraud detection systems and controls.
Yvonne Elford, Africa Commercial Lead at ACI Worldwide, says: “AI in financial services is a double-edged sword, both in enabling sophisticated financial crimes such as APP scams and fortifying defences against them.”
Damon Madden, Regional Solution Consultant & Fraud Expert – MEASA at ACI Worldwide, adds: “Scammers are using AI to boost inherited trust to unprecedented levels, automating hits and driving more effective social engineering techniques. The rise of real-time payment APP scams requires a coordinated cross-industry defence to share precise and collective intelligence in real time."
Addressing key trends
- The ACI Worldwide Payments Intelligence Roadshow
- 24 July at The Venue, Houghton Hotel, Johannesburg
The ACI Worldwide Payments Intelligence Roadshow, to be held in Johannesburg on 24 July, will address these key trends, delving into how combining AI, machine learning (ML), network intelligence and next-gen payment hubs can reduce risk and support real-time payments success in today’s competitive market.
The event will kick off with a networking lunch for fraud, risk and compliance decision makers from financial institutions, followed by insightful sessions on payment trends and modernisation, payment fraud and risk management.
ACI Worldwide’s international experts will outline the top real-time payment trends and emerging technologies to increase transaction speed and enhance security; the changing tactics of fraudsters and how AI, ML and predictive analytics can help to neutralise threats in real time. They will also outline the payments fraud landscape in South Africa, with a panel discussion on expanding the horizon of fraud prevention in payments.
For more information and to register for the ACI Worldwide Payments Intelligence Roadshow, go to:
https://www.itweb.co.za/event/aci-the-payments-intelligence-roadshow-2025/
Share