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IndustryUpdate

ANNOUNCEMENTS Fintech loans to grow 9.15 percent

According to data presented by BuyShares.co.uk, the
Chargebacks911 ebook advises on fraud entire fintech lending industry is expected to grow 9.15
percent year-over-year to $291.5 billion in 2020. The
Chargeback dispute management specialist increasing trend is set to continue in 2021, with the trans-
Chargebacks911 launched 50 Insider Tips for Preventing action value of the unified market jumping by 25 percent
Chargebacks, and ebook that provides merchants with to $335 billion value, researchers noted.
actionable steps to prevent chargebacks filed against
their businesses. During initial lockdown due to COVID- PXP studies COVID-19 impact on payments
19, businesses across all sectors moved into the online
space in order to survive – and an increase in online PXP Financial released its Supporting Businesses and
spending usually results in higher rates of online fraud Payments through COVID report, advising businesses in
and chargebacks, the company stated. gaming, retail and hospitality on best payments practice
throughout the ongoing COVID-19 pandemic. Split into
EMVCo offers evaluation program for contactless three designated sections and led by an in-house expert
in gaming, retail and hospitality, the report provides
EMVCo released a pilot testing program to evaluate these sectors with a deeper understanding of some of
consumer mobile devices for contactless payment accep- the problems they are currently facing, PXP stated, add-
tance. The Early Adopter Programme is open to vendors ing that the report tackles some of the biggest challenges
for functional evaluation of smartphones and tablets that brought about by COVID-19, and in turn lockdown –
can be used by merchants to take payments, without from its impact on consumer behavior and sacrifices to
the need for added hardware, such as a dongle. EMVCo customer experience, as well as how to reshape the pay-
introduced the program to address industry requests to ments process by utilizing innovative payment technol-
support merchants and acquirers that want to use com- ogy to overcome issues.
mercial-off-the-shelf consumer mobile devices to accept
contactless payments.
PARTNERSHIPS
Kount recognized for ecommerce security
CyberSecurity Breakthrough, an independent market Brandify, Rakuten to streamline transactions
intelligence organization that recognizes the top com- Brandify, which provides local presence for multiloca-
panies, technologies and products in the global infor- tion brands, formed a strategic partnership with Rakuten
mation security market, named Kount, provider of Ready, whose order-ahead technology powers more effi-
an AI-driven fraud-prevention solution, the winner of cient order for pickup for brick-and-mortar businesses.
the "e-Commerce Security Solution of the Year" award The partnership allows the two companies to showcase
for the second year in a row, in the fourth annual each other's offerings to retailers and enterprise brands,
CyberSecurity Breakthrough Awards program. and creates synergies that connect Brandify's location
Venio launches operations in Mexico technology with Rakuten Ready's commerce and order-
for-pickup technology platforms, Brandify stated.
Venio, the provider of a mobile application that offers
nano-credit via smartphone to unbanked consumers Fattmerchant, ServiceTrade team up
in emerging markets, expanded into Mexico. Venio Fattmerchant, an integrated payment technology pro-
Aplicaciones de Mexico, the Company's Mexican busi- vider, teamed up with ServiceTrade, a commercial ser-
ness arm, was established to support Venio's expansion vice management technology provider. Fattmerchant's
across the high growth emerging market. Omni Connect solution, which enables software compa-
nies to accept payments directly within their platforms,
RESEARCH will now give ServiceTrade the abilities of a payment
facilitator, without the inherent risk associated with

Blackhawk forecasts big year for gift cards becoming a payfac, and provide its end users and their
customers a more cohesive embedded payments experi-
Consumers are shopping earlier, buying more gift cards ence, Fattmerchant noted.
and leaning on digital gifting this holiday season. These
are among the findings of the 2020 BrandedPay Holiday FAPS named CaryFy payments partner
Shopping Preview report released by branded payments First American Payment Systems was named the pay-
provider Blackhawk Network. The report projects holi- ment technology partner of record for CaryFy, a lead-
day gift card spend will increase 19 percent over 2019, ing senior care business software company. CaryFy's
buoyed by a surge in digital gifting as consumers shift feature-rich software suite enables home health care
shopping and gifting habits in response to the pandemic businesses and senior care facilities to automate and
manage scheduling, recruitment, payroll, billing, nurs-
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