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The Green SheetGreen Sheet

The Green Sheet Online Edition

December 11, 2023 • Issue 23:12:01

Industry Update

The Green Sheet, Inc.ANNOUNCEMENTS

ClearSale ranks high for payment security, fraud prevention

ClearSale, a global business intelligence and risk prevention provider, earned the third spot in the Payment Security and Fraud Prevention category of the Digital Commerce 360 2024 Leading Vendors to the Top 1000 Retailers Report. This recognition reflects ClearSale's trusted status among major retail businesses, the company stated. As ecommerce revenue is projected to grow by nearly 10 percent annually from 2023 to 2028, ClearSale's position highlights its commitment to fraud prevention and security, aligning with consumer preferences for protection over easy checkout, the company added.

FIS Fintech Accelerator picks Kani Payments

Kani Payments, known for its disruptive data reconciliation and reporting platform, is among the 10 companies chosen for the FIS Fintech Accelerator 2023. The program identifies and supports fintech firms with the potential to scale globally. Kani Payments will leverage its SaaS platform to automate, enhance accuracy and ensure compliance in payments reconciliation and reporting for fintechs, acquirers and financial institutions worldwide.

The accelerator offers mentorship and access to FIS' network. Kani Payments said its participation follows its acceptance into the Mastercard Start Path Global program in 2022, highlighting its impressive growth trajectory.

Provenir recognized for it credit risk solution

Provenir's AI-Powered Risk Decisioning Platform secured its third consecutive win in the Credit Risk Solution category at the 2023 Credit & Collections Technology Awards. These awards recognize technology solutions aiding credit and collections companies, particularly amid regulatory challenges. Provenir's unified, cloud-based platform integrates risk decisioning, data and AI through a centralized user interface; it is designed to enable financial institutions to make accurate, automated risk decisions throughout the customer lifecycle and expedite product development.

Wiliot a Fast Company tech honoree

Wiliot, an IoT pioneer, was named to Fast Company's Next Big Things in Tech list for its ambient IoT Pixels and Visibility Platform. The platform connects digital and physical worlds with stamp-sized, self-powered compute devices called IoT Pixels, which are designed to enable virtually any item to connect to the internet. The devices provide real-time information on location, temperature, humidity and carbon footprint, which can help large companies make profitable, sustainable decisions. Plus the company's integration with generative AI platforms enhances supply chain visibility and enables proactive actions to address issues, Wiliot noted.

The Green Sheet, Inc.RESEARCH

Arkose Labs finds 3/4 of web traffic is malicious

Arkose Labs, a provider of bot management and account security, released a threat intelligence report revealing that bots and human fraud farms were responsible for 73 percent of all website and app traffic in the first half of 2023. The report highlights a 167 percent increase in bot attacks, with a particular surge in intelligent bots, which can conduct complex, context-aware interactions. The study also identifies two trends driving this increase: the use of generative AI for content generation by bad actors and the rise of cybercrime-as-a-service, making cyberattacks more accessible.

Fenergo issues KYC trends report

US investment banks are facing challenges in their fight against financial crime and compliance with changing regulations, according to Fenergo's 2023 KYC Banking Trends Report. The study found that 51 percent of respondents lost clients due to slow onboarding processes. Although KYC reviews now take an average of 82 days to execute per client, down from 117 days a year ago, investment banks are managing compliance and risk with reduced staff (-12 percent) and budgets, researchers found. Legacy architecture and revenue growth targets are top challenges for tech investment, and globally, the average cost of a single KYC review has increased to $2,598, they added.

NCR Voyix the largest POS software provider

NCR Voyix Corp., a global provider of digital commerce solutions, maintains its position as the world's largest POS software supplier, according to RBR Data Services' Global POS Software 2023 study. NCR Voyix leads in total and new restaurant installations and the Grocery+ category, encompassing grocery, convenience and drug stores. This top ranking has been held since the study's inception in 2016, RBR noted. NCR Voyix CEO David Wilkinson emphasized the company's commitment to innovation and customer partnership. The study covered over 1,000 POS installations globally by 125+ industry suppliers, totaling nearly 9 million installations.

Paysafe shares holiday ecommerce growth strategies

Paysafe's new research reveals that 64 percent of U.S. consumers would abandon a purchase due to checkout complications, making it crucial for merchants to improve their checkout experience for the year-end holiday season. The study of 14,500 consumers found a shift toward alternative payment methods for holiday shopping, with 48 percent favoring digital wallets, 40 percent using bank transfers, and 29 percent embracing online cash payments. Additionally, researchers noted, 78 percent of U.S. consumers plan to adjust their spending during the holidays due to increased living costs, with 32 percent spending less on gifts.

Juniper forecasts 2024 payments/fintech trends

In a new white paper, Juniper Research unveiled the 10 trends that are set to radically impact the fintech and payments landscape in 2024, including: 1. A2A payments to Challenge Cards in eCommerce and for Funding Wallets; 2. CBDC use cases to emerge in practice; 3. generative AI in banking to transform spending insights; digital identity adoption to be catalyzed by digital wallet integration; AML tools to increasingly leverage AI as alternative payments complicate compliance; sustainable fintech solutions to emerge, as ESG compliance moves to top of agenda; FedNow to fail to match instant payments success, but value-added services will flourish; mobile financial services to accelerate transition to banking tech services; biometric in-store payments to surge, as checkout innovation rises; and B2B BNPL to provide critical financing for SMEs.

The Green Sheet, Inc.PARTNERSHIPS

BHMI, NCR Atleos partner on transaction software

Payment solutions provider BHMI signed a reseller agreement with NCR Atleos, which will now offer BHMI's Concourse Financial Software Suite. Concourse, a real-time payment processing solution, handles settlement, reconciliation, disputes management and fees processing. NCR Atleos, a provider of self-service banking for banks and retailers, specializes in ATM and POS transaction technologies to bolster financial services with cost savings, agility and competitiveness. BHMI CEO Jack Baldwin said Concourse's continuous processing architecture and powerful rules engine make it ideally suited to complement the market-defining solution set being offered by NCR Atleos.

Link Money, Bold Commerce boost pay-by-bank

Link Financial Technologies and Bold Commerce partnered to offer Bold Commerce's checkout solution users access to Link Money's Pay by Bank solution in the United States. This collaboration aims to help brands and retailers reduce payment processing fees, credit card fraud and churn. With rising credit card fees and fraud incidents, merchants are seeking cost-effective alternatives to credit card payments, the partners said, adding that the integration enables brands using Bold Commerce's checkout solution to offer Link Money's Pay by Bank across various channels.

Nexi, Compass partner on in-store BNPL

European PayTech company Nexi and consumer credit company Compass, part of Mediobanca Group, entered a strategic partnership in the buy now, pay later (BNPL) sector. Compass' BNPL solution, PagoLight, will be integrated into Nexi's SmartPOS, enabling partner banks to offer retailers a deferred payment solution directly through the payment terminal, eliminating the need for additional devices. The partnership aims to capitalize on the growing BNPL market, which is projected to reach around $15.93 billion in annual transaction volume by 2025, according to Politecnico di Milano forecasts.

REPAY, Blackbaud integrate technology

REPAY Holdings Corp. integrated its technology with Blackbaud, a software provider for social impact, making REPAY the exclusive embedded vendor payment solution for Blackbaud Financial Edge NXT. This integration is designed to streamline vendor payments and enhance security.

Blackbaud clients can now use Payment Assistant within their platform to automate electronic payments, including virtual cards and ACH, simplifying processes and improving efficiency while reducing costs, the partners stated. REPAY added that this collaboration aligns with the growing preference for digital payments.

The Green Sheet, Inc.ACQUISITION

Milestone Partners acquires CDE Services

Private equity firm Milestone Partners acquired CDE Services LLC, a payment solutions provider specializing in electronic benefits distribution and credit/debit processing for convenience stores, grocery stores and pharmacies. CDE's integrated solution includes services like age verification and digital couponing, serving 24,000 merchants. The acquisition aims to tap into the growing digital economy by expanding CDE's footprint into new sectors. Milestone focuses on technology-enabled services and financial solutions and will work with CDE's management team to execute strategic initiatives.

The Green Sheet, Inc.APPOINTMENTS

Gabriel Grisham joins PayQuicker

Financial technology provider PayQuicker appointed Gabriel Grisham as senior vice president, global sales, for its Payouts OS product. Grisham will focus on expanding the reach of Payouts OS in untapped industries and global markets, overseeing the strategic growth of the sales organization. With over 15 years of fintech sales and business development experience, Grisham joins from NIUM and has previously held leadership roles at Rapyd, OFX and NihaoPay.

Payouts OS offers flexible payout solutions for businesses, supporting global payouts to more than 200 countries and territories in over 40 currencies, PayQuicker added.

iCheckGateway.com welcomes Luis Guzman

Payments and fintech company iCheckGateway appointed Luis Guzman as vice president of financial institution strategic partnerships. Guzman, with a background in the payments and financial industry, brings extensive experience to the role. Previously he served as senior director at Nacha, director at Fidelity National Information Services, director at Metavante Corp., and assistant vice president at iPay Technologies.

Guzman's expertise in decision-making, sales strategy and communication skills will support iCG Pay's growth and innovation, particularly in cultivating strategic partnerships and expanding the company's reach. end of article

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