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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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