EMVCo, the global technical body that facilitates the worldwide interoperability and acceptance of secure payment transactions, produced guidelines on how the travel industry can provide data to payment card issuers to better verify the authenticity of an ecommerce transaction using current payment authentication processes. The EMV 3DS Travel Industry Message Extension guidelines describe how travel industry merchants can provide additional travel-related data to issuers for use in risk-decisioning, for example, information about the ticket, itinerary and travelers.
Global industry association nexo standards expanded its testing support with validation of its Point of Interaction test tool, part of the NIS (nexo implementation specification) version 4.0 package. Now, implementers of nexo standards can feel confident in the quality and interoperability of POI solutions with unambiguous testing and implementation guidance, simplifying solution development and industry certification processes, nexo stated. The POI test tool follows 2019's launch of the first nexo accredited test tool, offering validation support for acquirer hosts in line with the nexo Acquirer Protocol 6.0.
Shift4 Payments, a provider of integrated payment processing solutions, is now the official credit card processing company of the Las Vegas Raiders and Allegiant Stadium and a sponsor of the stadium. All payment transactions at Allegiant Stadium will utilize Shift4's innovative, fully integrated suite of secure payment technologies including QR Pay and SkyTab mobile devices, Shift4 stated, adding that its end-to-end processing solution makes the company uniquely situated to fulfill a streamlined experience for stadium sports and entertainment venues.
Payment processing company VizyPay is supporting small businesses nationwide during the COVID-19 crisis through its Look Local First movement, which provides free digital marketing efforts like sponsored social media ads and promotional giveaways to drive customer engagement. Look Local First recognizes that social media has become a vital way small businesses connect with their customers, but those businesses often do not have the resources to implement a full digital strategy.
Fluid Pay reported that its latest product, the processor-agnostic Card Account Updater, automatically updates vaulted payment methods in the event a customer's payment information is expired or replaced, and helps merchants avoid failed transactions and gaps in services provided, which is useful for recurring billing. This model is extremely useful for Recurring Billing. Fluid Pay also noted it completed integration into Elavon, which includes currency conversion software.
In a recent survey, First Insight found that as more major retailers require customers to wear masks in-store, 80 percent of women surveyed feel unsafe trying out beauty products, 68 percent feel unsafe trying on apparel in dressing rooms and 61 percent feel unsafe trying on shoes. This represents an uptick compared to First Insight's last study in April when 78 and 65 percent of women felt unsafe trying on beauty products and apparel, respectively. The study also found that, of the generations, baby boomers feel the least safe returning to the physical shopping environment. Seventy-three percent of baby boomers surveyed said they would not feel safe trying on clothes in dressing rooms compared to 71 percent our First Insight's April study.
Specialized payments platform Paysafe's recent Lost in Transaction research surveyed consumers in the United States, Canada, the UK, Germany, Austria, Italy and Bulgaria in April 2020. Among the findings were that fifty percent of U.S. and international consumers already have at least two subscription payments leaving their bank account every month, with 27 percent expecting this number to increase in the next year, and fifty-three percent agree subscriptions are a more convenient method of paying for goods or services they regularly use.
Global Processing Services partnered with fintech, sync. to power the payment processing function of sync.'s debit cards. GPS said sync.'s smart payments service will support multicurrency current accounts that allow for seamless currency conversions, instant user-to-user transfers, national and international bank transfers, and real-time tracking. Users will be able to open accounts in the currency of their choice, transferring and spending funds in more than 30 currencies, and aggregating their external bank accounts in one app.
Fee Navigator, the fintech company that launched the first AI-powered instant merchant statement analysis service, partnered with International Bancard, a payment acceptance industry leader. Over the next few months, the two companies will work together to empower International Bancard's integrated software vendors and independent sales partners, helping them attract, sign, and retain new merchants with instant merchant statement analysis, the companies stated.
To aid adoption and create innovation in the crypto space, Mastercard expanded its cryptocurrency program, making it simpler and faster for partners to bring secure, compliant payment cards to market. Mastercard's Accelerate program2, now available for emerging brands and fintechs, gives them access to everything they need to grow quickly, the company stated. This came after Wirex became the first native cryptocurrency platform to be granted a Mastercard principal membership, allowing it to directly issue payment cards.
Paysafe, a leading specialized payments platform, announced its acquisition of U.S-.based Openbucks, for an undisclosed sum. Openbucks is a payment gateway that allows online merchants to accept retail gift cards as an alternative form of payment to credit cards, something that is particularly popular amongst online gaming and eSports operators, Paysafe noted, adding that this investment forms part of its strategy to further expand its cash alternative payment offering in the United States.
Repay Holdings Corp., a provider of vertically integrated payment solutions, acquired cPayPlus, LLC for up to $16 million, of which $8 million was paid at closing. The remaining $8 million may become payable in the third quarter of 2021, dependent upon the achievement of certain growth targets.
The closing of the acquisition was financed with cash on hand and will not materially impact REPAY's net leverage. cPayPlus is an accounts payable automation provider to a variety of industries, with concentrations in automotive, property management and field services.
Technology veteran Tim Harris, who has held senior management positions with global brands like Intuit, Siebel, and IBM, was appointed chief executive officer of FuturePay, which was recently acquired by NewOak Finance. Harris will be responsible for the company's product and go-to-market strategies, and will oversee the company's activities in engineering, sales, marketing, and partnerships.
Apifiny, a global liquidity and financial value transfer network, stated that Thomas Trepanier joined the company to lead the growth of its Roxe global settlement and liquidity solutions for banks, central banks and digital asset exchanges. Trepanier brings over 20 years' experience in financial services and fintech, serving banks, central banks, stock exchanges, central securities depositories, and asset managers.
His experience includes key business development and sales roles with Global Accelerated Ventures and Society for Worldwide Interbank Financial Telecommunications, among others.
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