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IndustryUpdate

whitepaper-sbom-management. The German Federal
Office for Information Security also highlighted SBOMs'
significance in its technical guideline TR-03183.

PayTabs to expand into card issuance
PayTabs Group launched PayTabs Issuance, a prepaid
card issuing solution aimed at simplifying and scaling
business operations in the Middle East and Africa. This
move is part of PayTabs' strategy to enter the global
card market, which is expected to reach $1.2 trillion
by 2032. PayTabs Issuance offers businesses a seamless
solution for acquiring, issuing, managing and con-
trolling payments, enabling them to issue co-branded
ANNOUNCEMENTS Visa, Mastercard, and debit cards, PayTabs stated. The
orchestration platform added that it aims to empower
any company, regardless of its market, to become self-
Citi invests in Icon to expand innovation reliant in payment processing technology, creating new
revenue streams.
Citi Treasury and Trade Solutions invested in fintech
provider Icon Solutions to enhance its payments technol- PXP Financial a Fintech Power 50 Trailblazer
ogy, streamline payment processing and delivery inno-
vation to clients. Citi said it plans to expand its use of the PXP Financial was recognized as one of the year's top
Icon Payments Framework to improve its microservices fintech trailblazers by the Fintech Power 50. This annual
orchestration architecture. This investment aligns with guide highlights the most influential companies and
Citi's strategy to strengthen its technology and payments personalities in the industry, with PXP Financial mak-
capabilities through partnerships with fintech firms. As ing the list due to its expertise in shaping innovations in
part of a multiyear modernization effort for its payments payments and its commitment to company culture and
platforms, Citi aims to prioritize flexibility and respon- values, PXP noted. PXP Financial reported that it offers a
siveness to industry changes, regulatory requirements, comprehensive payment platform, processing over €22.7
and evolving client demands in a digital-first environ- billion annually. The Fintech Power 50 is a network of
ment. fintech companies and influencers known for transform-
ing financial services.
LexisNexis Risk Solutions wins top fintech honors
Worldline introduces Metaverse Shopping Hub
Juniper Research awarded LexisNexis Risk Solutions
the Platinum Award for Fraud & Security Innovation Worldline, a global payments provider, launched the
of the Year in the 2023 Future Digital Awards for Worldline Metaverse Shopping Hub in Spatial, stat-
Fintech and Payments. The award recognizes LexisNexis ing it is a major upgrade for merchants entering the
Risk Solutions' contribution to fintech innovation. Its Metaverse, offering enhanced graphics and accessibil-
BehavioSec technology impressed judges with its fraud ity across devices. The Metaverse ecommerce market
prevention capabilities and real-time authentication scor- is projected to reach $2.6 trillion by 2030, making this
ing, ensuring a smoother customer experience, Juniper platform valuable for merchants without Metaverse
stated, adding that the behavioral intelligence tool presence, Worldline noted, adding that it launched the
integrates seamlessly with LexisNexis ThreatMetrix to Metaverse Shopping Mall in Decentraland and expand-
enhance trusted transactions and reduce false positives. ed it to Spatial. The company is also collaborating with
PAYONE to bring its Metaverse solution to Germany
Software inventory list mandatory and Austria in 2024.
for all devices in EU
RESEARCH
ONEKEY, a specialist in cybersecurity, emphasized the
importance of the Software Bill of Materials (SBOM)
in the context of upcoming IT security laws like the Merchant services market worth $3.2B in 2030
EU Cyber Resilience Act. SBOMs are crucial for trans-
parent software supply chains and accountability in The merchant services market is projected to reach $3.2
software production and distribution, ONEKEY stated. billion by 2030, with a 5.4 percent CAGR from 2021 to
The company operates a security platform that offers 2030, according to Adroit Market Research. Merchant
software-as-a-service, conducting automated reviews, services encompass various financial products and ser-
risk assessments of device software, and SBOM cre- vices that enable businesses to accept payments, includ-
ation. Additionally, the company released a white paper ing credit cards, debit cards and electronic payments.
providing guidance on SBOMs at https://onekey.com/ These services are crucial for businesses operating online
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