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IndustryUpdate
ANNOUNCEMENTS
Chosen Payments recognized
Chosen Payments was named one of the Top 10 Point
of Sale Solution Providers by Aspioneer Magazine, a
publication focusing on business leaders. The rec-
ognition was accompanied by a feature article in the
magazine's October issue that details the phenomenal
growth and recognition of the company since its
launch eight years ago, Chosen Payments noted.
Global Payout signs major financing agreement
Prepaid payment solutions provider Global Payout
Inc. entered into an arrangement with a long-term
private investor for ongoing financial support at a
valuation of 10 times the current share price. The
investor's name was undisclosed, but Global Payout
said it has previously provided more than $2,200,000
in investment capital to the company. Global Payout
anticipates using a large portion of the proceeds to
retire a substantial percentage of its outstanding con- million and just under $1 billion. The report presents
vertible debt.
Paysafe's mPOS takes off
Paysafe Group launched Mobile Pay, its new cutting-
edge mobile point of sale (mPOS) in the United
States. Featuring apps developed with Apriva, a
leading omnichannel payments solutions company,
and patented hardware from AnywhereCommerce, a
mobile payments pioneer, Mobile Pay offers a highly
flexible approach to mobile payments, Paysafe stated.
The solution was developed following strong inter-
est from U.S. small and medium-sized businesses
(SMBs) in integrating mobile payment apps.
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Sysnet launches PCI DSS solution for payfacs
Sysnet Global Solutions introduced its Payment Card
Industry Data Security Standard (PCI DSS) solution
designed to help payment facilitators, their sub-mer-
chants, and their acquirers increase PCI compliance
and reduce risk. The solution gives these businesses
the ability to report on the compliance status of their
merchant portfolios regardless of size, Sysnet stated.
TSG names best ecommerce
merchant experience providers
The Strawhecker Group recognized a selection of
payments companies for their exceptional startup,
small and midsize eommerce merchant experience.
Square won the Ease to Launch award; Shopify won
top honors for Best Sales Process; and the Lowest
Cost award went to WePay. TSG's research was pow-
ered by TSG's Gateway Enterprise Metrics platform,
which completed an anonymous process of opening
new merchant accounts to obtain the ability to accept
cards online.
RESEARCH
ClearSale, Aite study false
declines, fraud prevention
Aite Group released a new ClearSale-sponsored
report, The E-Commerce Conundrum: Balancing
False Declines and Fraud Prevention. It is based on
a study of 100 U.S.-based ecommerce executives
whose companies earn annual revenues between $100
the latest information on the growth of CNP fraud
and falsely declined orders in ecommerce, the impact
of false declines on customer behavior, and strategies
for reducing fraud and false declines.
U.S. forecasts 2.2 percent GDP growth in Q4
The Equipment Leasing & Finance Foundation's
fourth quarter update to the 2019 Equipment Leas-
ing & Finance U.S. Economic Outlook estimated that
overall, the economy is expected to expand 2.2 per-
cent, down from the previous estimate of 2.5 percent,
with growth driven primarily by consumer spending.
The foundation produces the report in partnership
with economic and public policy consulting firm
Keybridge Research.