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IndustryUpdate
ANNOUNCEMENTS RESEARCH
Alipay, Lyf Pay join nexo standards Ingenico sees pan-European opportunities
Alipay and Lyf Pay have become Principal and The European online division of global payments leader,
Associate Members, respectively became members of Ingenico Group, released ecommerce transaction data
nexo standards, an international association dedicated insights that indicate a greater pan-European business
to enabling fast, interoperable, borderless payments opportunity for online merchants during highly target-
acceptance. Operated by Ant Financial Services Group, ed peak shopping events. Analyzing trends from Black
Alipay serves over 1 billion users with its local e-wallet Friday transactions over the past three years, Ingenico
partners. Lyf Pay is a multiservice mobile payment found sales are still increasing, driven in part by the
application developed in France that aims to simplify rapid growth of cross-border transactions. From 2016 to
all of consumers' day-to-day payment and shopping 2017, cross-border sales rose by 16 percent. In 2018, this
experiences, nexo reported. figure surged 70 percent year over year. The increase
was replicated on other peak sales days throughout the
FIME supports mobile softPOS year, Ingenico noted.
FIME now offers consultancy and testing services to TSG reveals top performing gateways
support the development and launch of software-based
mobile POS (softPOS) solutions. SoftPOS solutions are Using its Gateway Enterprise Metrics platform, The
completely software-based. They use the near field Strawhecker Group identified a selection of payment
communication (NFC) functionality of smartphones gateways for exceptional performance across several
to accept contactless card or mobile payments using a key areas critical to a successful payment platform.
commercial off-the-shelf mobile device. SoftPOS devel- Elavon's Fusebox was assessed as best performing
opers can now ensure the functionality, interoperability gateway; Worldpay's VAP and TSYS' MultiPass were
and security of their applications prior to launch, FIME the runners up. BluePay was found to have the highest
stated. authorization rate, with MultiPass and Fusebox gain-
ing the runner up spots in that category. Multipass was
Kleinberg Kaplan joins blockchain consortium recognized as gateway with the highest uptime, with
runners up EpicPay and TSYS' TransExpress. Fastest
Boutique law firm Kleinberg Kaplan joined the Global transactions nod went to Fusebox with one runner up
Legal Blockchain Consortium, a group comprising over spot going to VAP.
230 companies, law firms, software companies and
universities developing standards to govern the use of U.S. Payments Forum details EMV tokenization
blockchain technology in the business of law.
Last year saw a 126 percent increase in stolen records
Solvent eyes cannabis payments containing personally identifiable information, includ-
ing payment data, and many organizations interested in
Fintech company Solvent received $850,0000 in seed protecting payment data are implementing tokenization
round funding led by Chicago-based venture capital as a tool to reduce opportunities for fraud, according to
firm B&B Partners. This will allow Solvent to round out the U.S. Payments Forum. To help, the forum released a
its engineering team and go to market with a software- white paper examining the use of EMV payment tokeni-
as-a-service risk management and compliance platform zation to protect payment card data. "EMV Payment
for financial institutions, as well as CBD and THC credit Tokenization Primer and Lessons Learned," is available
card-enabled merchant services by the end of 2019, at www.uspaymentsforum.org/emv-payment-tokenization-
Solvent stated. primer-and-lessons-learned/.
Trustonic joins PCI SSC
PARTNERSHIPS
Mobile cybersecurity company Trustonic joined the
PCI Security Standards Council as a new Participating
Organization. Trustonic will work with the PCI SSC to BRC, Chargebacks911 support retailers
help secure payment data worldwide through the ongo- The British Retail Consortium is working with dispute
ing development and adoption of the PCI security stan- processing and remediation company Chargebacks911
dards. The PCI SSC leads a global, cross-industry effort to help BRC members better understand how to combat
to increase payment security by providing flexible, friendly fraud and chargebacks. The partnership aims to
industry-driven and effective data security standards slow the rapid growth of chargeback rates that continue
and programs. to negatively impact retailer profits – UK online transac-
tions grew by 7.5 percent in the last year, while related
chargebacks rose by 23 percent, the BRC stated.
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