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The Green SheetGreen Sheet

The Green Sheet Online Edition

September 11, 2023 • Issue 23:09:01

Industry Update

The Green Sheet, Inc.ANNOUNCEMENTS

DataVisor debuts real-time fraud solution

DataVisor launched its Real-Time Payments Fraud Solution to prevent instant payment fraud as payment options expand. The solution leverages account life-cycle signals, advanced machine learning techniques, and prebuilt rules for real-time payments fraud scenarios designed to help financial institutions embrace instant payment technologies confidently. As real-time payments increase fraud risks, DataVisor stated, its solution responds to emerging threats in real time; offers turnkey, prebuilt rulesets, proven real-time fraud signals, best-in-class machine learning and real-time alerts; and orchestrates data sources to step up authentication.

Fortis launches video, podcast series

Fortis launched a monthly video and podcast series, Embedded: Unveiling Payments Latest Innovations, to educate software vendors and merchants about the latest in the payments space. The series will feature discussions with Fortis leadership and experts, including a showcase of Fortis solutions. Greg Cohen, Fortis CEO, and Timmy Nafso, Fortis executive vice president, will be joined by high-profile guests to explore relevant topics in payments. The series aims to provide a deeper understanding of the challenges faced by vendors and merchants and will be available on fortispay.com, Apple Podcasts, Google Play and Spotify.

PaymentVision advocates for consumer choice

PaymentVision, a payment processing solutions provider, launched the Power of Pay Choice campaign, encouraging billers to incorporate walk-in cash-payment options alongside regular billing methods. The campaign aims to empower consumers, enhance customer satisfaction, promote inclusivity and advocate for customer rights. Rob Pollin, PaymentVision CEO, emphasized the importance of adapting to customer needs and respecting individual preferences.

SEC approves NCR split

NCR Corp., an enterprise technology provider, revealed that the U.S. Securities and Exchange Commission approved its Registration Statement on Form 10 by NCR Atleos. This form pertains to NCR's decision to divide into two distinct, publicly traded entities: NCR Atleos and NCR Voyix. The separation is expected to be finalized in the last quarter of 2023. NCR Atleos will concentrate on banking services and ATMs; NCR Voyix will pivot toward digital commerce.

StoreConnect raises $9M in seed round

StoreConnect, an ecommerce solution founded by Mikel Lindsaar, secured $9 million in a seed round led by Bellini Capital. The investment will fuel StoreConnect's mission to address challenges faced by small and midsize businesses (SMBs) in the ecommerce landscape, including sustainability, app selection, page load times, and balancing functionality and performance. StoreConnect's all-in-one solution, built on the Salesforce CRM platform, aims to eliminate major barriers, accelerate transactions, and open up new avenues of growth and profitability for SMBs.

The Green Sheet, Inc.RESEARCH

Fiserv issues Q3 Gift Card Gauge

The Fiserv Q3 2023 Gift Card Gauge indicates that 68 percent of consumers plan to buy gift cards this holiday season, despite high prices driven by inflation. Although 27 percent plan to spend more on gifts than in 2022, 28 percent are already using discounts and promotions; 31 percent are waiting for events like Black Friday. In addition, 40 percent of shoppers have already made purchases, a 25 percent increase from 2022; 43 percent prefer holiday-themed gift cards; and 66 percent are interested in gift cards featuring partnerships from multiple companies.

J.D. Power finds mounting credit card debt

U.S. credit card debt grew by $45 billion between April and June 2023, surpassing the $1 trillion mark, per the New York Federal Reserve. The J.D. Power 2023 U.S. Credit Card Satisfaction Study revealed that 51 percent of U.S. credit cardholders have revolving debt, averaging a 14.8 percent interest rate, and cardholders' deteriorating financial health is impacting satisfaction with rewards programs. While 51 percent maintain revolving debt, this rises to 69 percent among those deemed financially unhealthy. According to the study, fintech credit card providers are increasingly popular, often surpassing traditional bank-branded cards in customer satisfaction.

Super-app popularity on the rise

The surge in development of Super-apps, such as WeChat and Gojek, that provide multiple services on a single platform is expected to lead to 50 percent of the population using more than one Super-app by 2027, according to Gartner, which found that despite their popularity in Asia, Europe is lagging in Super-app development due to regulatory and security challenges. Lanistar, a UK-based fintech, is working on a solution that provides all financial products, including cryptocurrency, in one place. Despite the risks, Jeremy Baber, CEO of Lanistar, urged UK and European businesses to develop or partner with existing providers to offer their services and avoid being left behind in the rapidly evolving market.

Verizon issues 2023 Payment Security Report

Verizon Business released the 2023 Payment Security Report (PSR) ahead of the PCI DSS version 4.0 compliance deadline, March 31, 2024, deadline. The new version includes numerous updates and 64 new requirements affecting all organizations dealing with cardholder data. The PSR provides tools for security management program design to facilitate long-term success and integration of PCI security into larger corporate initiatives. Kris Philipsen, managing director of Cybersecurity Consulting at Verizon, noted that the PSR helps in achieving predictable PCI DSS v4.0 outcomes and breakthrough performance enhancements.

The Green Sheet, Inc.PARTNERSHIPS

BEST Vietnam, Techcombank tackle cashless payments

BEST Vietnam, part of BEST Inc., partnered with Techcombank to enable cashless payments via QR code scanning for customers receiving packages from BEST Express. This is facilitated through Techcombank's Virtual Account solution. Devin Fan, deputy general director of BEST Vietnam, said the move aligns with the trend of smart payments in the 4.0 era and will reduce risks associated with cash handling. Phan Thanh Son, deputy general director of Techcombank, mentioned plans for future collaboration on liquidity management and cash flow solutions. BEST Vietnam had previously collaborated with VNPAY on cashless payments.

GoCardless, Kolleno launch AI-enabled platform

GoCardless, a global leader in direct bank payments, and financial operations platform Kolleno partnered to enable automation of invoice collection for CFOs and financial and credit controllers. The partnership allows Kolleno customers to proactively collect payments using GoCardless' direct debit functionality and Success+ feature, which is designed to use machine learning to identify and schedule optimal times to retry failed payments. The integration aims to reduce overdue invoices and late payments, eliminate manual invoice processing and free up valuable time. The features are available to Kolleno customers in the UK, Europe, Canada and the United States through the GoCardless global bank payment network.

Solana Pay integrates with Shopify

Solana Pay, a decentralized, peer-to-peer payments protocol by Solana Labs, integrated with Shopify to enable businesses to manage working capital, liquidity and liability protection while eliminating bank fees, chargebacks and holding times. It allows real-time access to funds and immediate payment settlement in USD stablecoins, Solana stated, adding that it opens up dynamic payment choices for merchants and convenience for consumers while enabling web3-enabled commerce experiences, including token-gated offers, cross-border payments, and NFT-based loyalty programs. Solana also noted that several Solana-active brands have already committed to making Solana Pay a payment option in their Shopify storefronts.

VizyPay, Clear Lake Bank & Trust team up

VizyPay, a fintech serving rural American small businesses, said it partnered with Clear Lake Bank & Trust to provide its customers access to affordable and user-friendly payment technologies. This partnership, the company added, connects the bank's small business customers with VizyPay’s team and innovative technologies, helping them reduce processing fees and enhance their businesses. VizyPay CEO Austin Mac Nab noted that pairing the bank’s financial services knowledge with VizyPay’s technology and support will provide the best options for Northern Iowa’s small business owners.

The Green Sheet, Inc.ACQUISITION

Zone & Co acquires Infinet Cloud

Zone & Co, a cloud-native financial services software specialist, acquired Infinet Cloud, a developer of international payroll and employee services software. The acquisition expands Zone's geographic footprint to the UK, Australia, New Zealand and Canada, and enhances its Zone Apps portfolio with payroll and HR capabilities, which is expected to aid CFOs and adjacent teams. Infinet Cloud's team and clients will migrate to Zone & Co, with integration slated for completion by the end of 2023. The move, Zone & Co stated, aligns with increasing customer demand to combine accounting and payroll functions.

The Green Sheet, Inc.APPOINTMENTS

Merchant Lynx taps Jeffrey De Petro

Merchant Lynx Services appointed Jeffrey De Petro as its new chief operating officer. This follows the company's recent acquisition of the National Credit Card Processing Group. De Petro brings significant experience from his consulting firm, JDC Payments Innovation, as well as previous leadership roles at Mastercard and as chief administrative officer and executive vice president at Esquire Bank. Merchant Lynx, a family-owned ISO, has 26 years of experience in the payments industry and expects De Petro's addition will drive the company's growth ambitions further.

Kelli Hobbs signs on with Valuedynamx

Valuedynamx, a provider of data-driven omnichannel purchase rewards, appointed Kelli Hobbs as vice president of business development in the United states. Hobbs, with nearly two decades of experience in the loyalty, engagement and fintech sectors, will focus on strategic growth, partnerships and enhancing market presence. The appointment is part of Valuedynamx's continued U.S. expansion and desire to make brands more relevant to customers. Hobbs' role is expected to accelerate the adoption of Valuedynamx's solutions and lead to more profitable long-term relationships for U.S. partners.

A.J. Mattani joins Go-Live Faster

Go-Live Faster appointed industry expert Ajay Mattani to spearhead product development and lead its payments practice. This appointment aligns with the company's ambition to become a leader in the global payment processing market. By consolidating product development and payment solutions under Mattani, Go-Live Faster aims to address current challenges in digital payment processing. Mattani has more than 20 years' experience in the digital payments sector and has held executive roles at Volante Technologies and Finastra, emphasizing payment processing, ISO20022 migration, and other specialized areas.

Bilt Rewards appoints Sean Walsh

Bilt Rewards, a program enabling consumers to earn rewards on rent and daily spending while creating a path to home ownership, appointed Sean Walsh as managing director, external relations. Walsh, previously global chief brand officer and managing director of operations in the United States at dmg media, will be responsible for Bilt's communications strategy to key external stakeholder groups. Ankur Jain, CEO of Bilt Rewards, praised Walsh's ability to drive growth at scale and his understanding of the startup hustle. Walsh's experience includes launching Daily Mail Australia, developing DailyMailTV and serving as chief spokesperson for dmg media end of article

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