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IndustryUpdate

consumer trust in the authentication process and opti- ient and adaptable to events such as natural disasters
mizing the checkout experience. and trade restrictions. Michael Ault, CEO at UTP, said,
“[W]ith digital payment acceptance in place, small busi-
Monetra receives new PCI security validation nesses can drill into a goldmine of data analytics that
can tell them who their customers are, how they pay and
Monetra Technologies reported that it received valida- how best to reach them with targeted offers generated
tion under the Payment Card Industry’s (PCI) new by their preferences.” Fundamental changes to how we
Secure Lifecycle (Secure SLC) standard. The Secure SLC shop inspired UTP to create the ebook, UTP said.
standard is part of the PCI Software Security Framework,
which includes a validation program for software ven-
dors and their software products and a qualification pro- RESEARCH
gram for assessors that will replace the older Payment
Application Data Security Standard when it is retired in Bluesnap finds challenges in
2022. Monetra Technologies, an i3 Verticals company, is cross-border payments
the first independent software vendor to receive Secure
SLC validation, Monetra stated. According to the PCI Global payment company BlueSnap released survey
Security Standards Council, the new Software Security findings that highlight the losses in sales and revenue
Framework expands beyond the scope of the PA-DSS to and hefty expenses companies can incur if they do not
address overall software security resiliency for modern optimize processing of payments on international sales.
payment software. The study, conducted in conjunction with Pulse, found
that 68 percent of companies that sell to international
TreviPay mobile app digitizes B2B customers are processing payments in the country or
Financial technology company TreviPay released its region where their business is located, not where the
one-click mobile payments app for B2B buyers, stating customer is located. This can result in lower payment
it is an industry milestone toward the complete digitiza- authorizations rates: 41 percent of respondents reported
tion of B2B payments that allows merchants to offer a payment authorization rates of 70 percent or less.
mobile app payment experience to their pre-approved Another impediment is significant cross-border and for-
B2B credit customers. The app enables buyers to access eign exchange fees for businesses for each transaction,
their buy-now-pay-later (BNPL)/trade financing in-store, which can add more than 1 percent to the processing
eliminating the need and fraud risk of issuing multiple cost of each transaction.
credit cards to numerous purchasers within an organiza- US Payments Forum releases market snapshot
tion, TreviPay stated, adding that merchants can offer
B2B buyers instant, digital invoicing within the app, The U.S. Payments Forum released its latest Market
which provides a simpler experience than paper receipts Snapshot to offer an overview of the state of the indus-
and manual invoicing. try, including the persistent uptick in contactless pay-
ment methods in a post-COVID climate, the significant
Copyright infringement judgment favors USMS successes in EMV implementation in the petroleum

In the Settlement Agreement between United Merchant industry, how the payment industry is responding to the
Services Inc., JK Systems Inc. and Ho Kim, Rainbow POS chip supply shortage, and current Forum priorities and
software by JK Systems Inc. for dry cleaners will no lon- projects. Other topics addressed in the overview include
ger be marketed, sold or serviced in the United States, the impact of a global chip shortage, which, according to
because Rainbow POS had infringed Royal Western ABI research, has put 1 billion payment cards at risk of
Computer-branded Royal Touch POS software owned not being issued through 2022, and growing interest in
by UMSI. UMSI said all dry cleaners using Rainbow EMV 3-D Secure.
POS must stop doing so immediately, as that product
infringed on UMSI's intellectual property rights. UMSI PARTNERSHIPS
urged Rainbow POS users to reach out via www.
RainbowPOSSettlement.com to exchange the infringing Chargeback Gurus, Vindicia collaborate
POS for legitimate Royal Touch POS software license
and/or system. Chargeback Gurus is working with Vindicia—part of
the Amdocs Media Division that specializes in business-
UTP launches ebook to future-proof SMEs to-consumer digital services monetization—to provide
UTP, a provider of credit and debit card payment solu- end-to-end chargeback prevention and recovery solu-
tions, published a new ebook titled Never Going Back: tions to subscription merchants worldwide. As fraudu-
lent dispute payments become increasingly common
How SMEs can future-proof for post-pandemic success.
The ebook explains how a secure, fast, and smart pay- and issuers remain eager to meet the demands of their
customers, subscription merchants are struggling to
ments infrastructure can help SMEs become more resil-
stem the tide of friendly fraud, the partners stated. In
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