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IndustryUpdate
ANNOUNCEMENTS
Apex expands healthcare self-service payments
Patient financial solutions provider Apex Revenue
Technologies expanded its capabilities for self-service
payment plans to allow providers greater flexibility in
response to patients' financial challenges. Patients are
now able to set up their own plans based on recom-
mended terms or customize a plan. The enhanced solu-
tion also keeps total balance owed and payment plan
status in synch with practice management systems,
Apex noted.
Bluefin joins ATPC
Payment security specialist Bluefin Payment Systems
LLC joined the Georgia-based American Transaction
Processors Coalition to support and promote POS
and ecommerce payment security through PCI Data
Security Standard-validated point-to-point encryption
and tokenization solutions. The ATPC was founded in
2014 with the mission to protect, promote and preserve
the interests of the fintech and payment processing
industries through proactive public relations and gov- is becoming increasingly important. Every time you
ernment affairs activities.
Cardfree awarded new patent
Cardfree, a mobile wallet provider to large merchants,
was awarded U.S. Patent No.10,002,366, which cov-
ers "the ideal mobile wallet use case of enabling the
consumer to transact with everything in his or her wal-
let – offers, payment and loyalty points – in a single
action." The patent also covers the company's propri-
etary stored-value product that enables standard and
nonstandard currencies including cryptocurrency, stock
keeping units and conditional values, Cardfree noted.
Electronic Payments surpasses
$1 billion monthly milestone
In June, Electronic Payments Inc. reported exceeding $1
billion in monthly aggregate payment volume for the
first time. The single month volume was up 26 percent
from the previous June. Its ProCharge platform also
reached a landmark $50 million in monthly customer
invoice creation. "Our commitment to in-house prod-
ucts has come full circle and we now have a stable
and evolved POS solution, as well as stored-value and
e-billing systems for our clients," said Michael Nardy,
Electronic Payments founder and CEO.
Fleetcor joins S&P 500
Fleetcor Technologies Inc., a global provider of com-
mercial payment solutions, was added to the S&P 500
Index, which comprises 500 leading U.S. companies
that combined capture approximately 80 percent of
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total available U.S. market capitalization. Fleetcor has
achieved seven consecutive years of double-digit earn-
ings growth since its IPO in 2010, was ranked 869 on the
2018 Fortune 1000, and placed 26 on the Forbes Magazine
list of World's Most Innovative Companies.
Muse crowdfunds smartwatch with NFC
The Muse hybrid smartwatch, which uses artificial
intelligence to track and organize daily activities like
exercise monitoring, nutrition advice and sun exposure
alerts, recently began accepting backers on Kickstarter.
The watch also features music and camera control, near
field communication (NFC) payments, personal calen-
dar/alarm, forgotten phone notifications and immersive
entertainment experiences.
UK regulator studying use of payment data
The Payment Systems Regulator launched a discussion
paper about data in the payments industry to better
understand the opportunities and risks associated with
treatment of data and its role in enhancing processes.
Hannah Nixon, Managing Director of the PSR, said,
"The UK's payments sector is rapidly evolving and data
make a payment or withdraw money, you generate
data."
RESEARCH
X9 studies CNP fraud, blockchain
The Accredited Standards Committee X9 Inc. (X9) pub-
lished two documents: Technical Report 48 – Card-Not-
Present (CNP) Fraud Mitigation in the United States:
Strategies for Preventing, Detecting, and Responding to
a Growing Threat and a white paper from the X9
Distributed Ledger and Blockchain Technology Study
Group. TR 48 summarizes guidelines to mitigate CNP
fraud in the United States, identifies CNP fraud attack
trends affecting payments, and outlines stakeholder
mitigation tools and strategies. The white paper assesses
standards for distributed ledger technology, and spe-
cifically blockchain, that would benefit the financial
services industry and support its adoption.
Juniper predicts 2023 mPOS penetration
POS Terminals ‒ Our Vision for 2023, a white paper
from Juniper Research, predicted usage of mobile POS
(mPOS) devices connecting wirelessly or via mobile
devices will drive annual mPOS transactions to over 87
billion by 2023, nearly triple the 28 billion transactions
projected this year. The devices are also expected to
drive payment card usage in emerging markets, such as
India, where five-year growth could reach 46 percent.