ANNOUNCEMENTSBHMI added Configurable Summary to its Concourse Financial Software Suite to enable customized summaries for specific reporting needs. Concourse manages back-office payment processing and boasts continuous processing architecture, a centralized data repository and a configurable rules engine. Leveraging real-time summarization, the new feature offers flexibility in consolidating data attributes and time boundaries for reporting, BHMI stated. With easy creation through configurable rules, the company added, Concourse enhances decision-making, aligning with BHMI's mission to provide flexible, powerful payment solutions.
Brite Payments joined The Payments Association EU as a Patron Member, highlighting its dedication to industry collaboration amid European expansion. Known for enabling instant account-to-account payments, Brite secured $60 million in capital in 2023, fueling its growth and technology development, notably its Brite Instant Payments Network, the company stated. TPA EU is dedicated to fostering collaboration among members to promote secure, innovative payment solutions. Brite said it aims to support the association's mission while addressing merchant needs and combating fraud in the evolving payments landscape.
MNS Credit Management Group Pvt. Ltd. earned approval as a Validation Agent in the Global Legal Entity Identifier (LEI) System, collaborating with Legal Entity Identifier India Ltd. (LEIL). This New Delhi-based B2B debt management firm's accreditation as the second Validation Agent in the region is expected to streamline LEI issuance, meet rising demand, and enhance client and internal experiences. The Global Legal Entity Identifier Foundation underscored the importance of Validation Agents in combating global criminality and encouraged broader LEI adoption. The LEI's integration into ISO 20022 payment messages is gaining momentum supported by key stakeholders, the foundation added.
Nabis introduced Nabis Capital, a streamlined payment solution designed to provide upfront cash flow to licensed cannabis operators. With its proprietary algorithm, the company also offers tailored support structures and market trend insights designed to empower cannabis operators for strategic growth. Akin to cash-on-delivery, Nabis Capital offers 100 percent upfront cash with a 24-hour processing time, aiding brand scalability and market penetration strategies, the company noted, adding that partners like Eaze and Bloom praise its flexibility and impact on business innovation.
Plug and Play unveiled its fintech startup accelerator program in Frisco and McKinney, Texas, in collaboration with local economic development agencies. The initiative, Plug and Play stated, aims to cultivate a collaborative fintech ecosystem in North Texas. Startups in the program will gain mentorship, access to corporate partners, and exposure to global connections through Plug and Play's extensive network, according to the company. Saeed Amidi, Plug and Play's founder and CEO, emphasized the program's role in fostering fintech innovation and contributing to the region's economic growth. This initiative follows Plug and Play's recent introduction of Sportstech and Enterprise & AI programs.
RESEARCHDragonfly Financial Technologies Corp. shared insights from its State of Banking survey, which was based on interviews with more than 100 bank executives about their challenges, tech priorities and outlook for 2024. Despite concerns over legacy technology dependency and rising tech debt, 85 percent of respondents indicated they remain optimistic about the banking industry. Over half plan to increase or maintain tech spending. Key concerns for 2024 include deposit protection, as well as fraud and staffing resources for digital banking. Investments in real-time payments, fintech applications and API banking are all on the horizon, researchers found.
NCC Group's Annual Threat Report revealed a staggering 84 percent surge in global ransomware attacks in 2023, totaling 4,667 cases, compared to 2,531 in 2022. New threat actors, including Hunters, DragonForce and WereWolves, contributed to the rise. Industrials were the top target, with 1,484 attacks, followed by consumer cyclicals and technology sectors. Threat actor LockBit was dominant, with LockBit 3.0 accounting for 1,039 attacks. More than 80 percent of attacks occurred in North America, Europe and Asia. Operation Duck Hunt showcased law enforcement's impact on the threat landscape, despite resilient malicious schemes like DarkGate and Pikabot.
PARTNERSHIPSFactor4 LLC, a gift card and loyalty solutions provider, integrated with LMS-POS, a liquor and retail POS system featuring lottery management and ID scanning. This integration enables omnichannel gift card processing, enhancing revenue generation, customer acquisition and retention for merchants, the partners stated. Factor4 CEO Dan Battista expressed excitement about expanding his company's market reach. Ranjan Regmi, LMS-POS co-founder, noted that the new partnership facilitates sales growth, adding new value to liquor and retail stores.
Fintech company Geidea partnered with Fils, a climate action enterprise, to embed climate positivity into transactions via API integration. This collaboration reflects Geidea's commitment to sustainability and reshaping digital payments, aligning with Fils' mission for environmental consciousness, the partners stated. They added that the partnership allows merchants to estimate carbon emissions for transactions, fostering a culture of sustainability, and enabling customers to support carbon credit projects seamlessly and contribute to a greener future.
Giift and JCB International joined forces to enhance the loyalty experience, leveraging JCB's global payment expertise and Giift's loyalty solutions. This partnership, they noted, signifies a significant advancement for Giift in the banking and finance sector, strengthening its presence and credibility. Sumit Uttamchandani, head of strategic partnerships at Giift, emphasized the partners' commitment to growth and innovation while aiming to provide tailored benefits to JCB cardholders through specially curated discounts and offers. Shinpei Isaji, senior manager of business planning at JCB, mentioned that the collaboration opens new avenues for both organizations to drive customer engagement and satisfaction.
Nuvei Corp. and Cash App partnered to offer U.S. customers a fast and convenient payment option for online purchases. Through Nuvei's integration, partners can seamlessly add Cash App Pay to their checkout process, appealing to younger consumers and encouraging repeat shopping, Nuvei noted. Nuvei CEO Philip Fayer shared the company's mission to support partners in engaging customers across various payment methods and boost revenue growth. This collaboration, he added, underscores Nuvei's commitment to providing a diverse range of payment options through its customizable platform.
PXP Financial said it is now a Google Pay Payment Service Provider (PSP), enabling integration for web and native applications and secure transaction processing. With over 150 million users worldwide, Google Pay offers convenient payment options across various platforms, the company stated. Kamran Hedjri, PXP Financial's Group CEO, said, "We are delighted to be able to add GooglePay to the range of online and in-store payment solutions we can support to help merchants increase sales, reduce friction, and grow customer loyalty by aligning with how people want to buy."
ACQUISITIONSAiming to bolster its global rewards platform, Blackhawk Network agreed to acquire digital B2B gift card rewards company Tango Card. BHN CEO Talbott Roche cited Tango's digital-first rewards approach and global content breadth as complementary to BHN's portfolio. This strategic move, Blackhawk noted, combines BHN's scale and expertise with Tango's innovative B2B incentives platform. Tango CEO David Leeds pointed out that the companies share customer-centric values. Regulatory approvals for the acquisition, which is backed by FTV Capital and expected to close in 2024, are pending.
Entrust is in exclusive discussions to acquire Onfido, a cloud-based AI-powered identity verification provider. The potential acquisition aims to enhance Entrust's identity solutions by incorporating Onfido's compliant AI/ML-based biometric and document IDV tech stack. This move could advance biometric-based authentication for secure transactions and signing events, Entrust noted. Entrust President and CEO Todd Wilkinson praised Onfido's IDV expertise, stressing the importance of robust identity assurance amid AI-based threats. Onfido CEO Mike Tuchen expressed enthusiasm for potentially expanding access to advanced digital identity verification globally.
Paramount Management Group agreed with Cypress Advantage to acquire 7,500 ATMs, expanding Paramount's U.S. footprint. Cypress, established in 1996 by Samantha and Michael Guthrie, is known for supporting independent ATM deployers (IADs) with comprehensive services. Maya Fuentes, Paramount's senior vice president of M&A business development, praised Cypress' track records and strategic alliances. Samantha Guthrie highlighted the benefits of the acquisition for Cypress's IADs, including personalized service and access to Paramount's offerings. Paramount CEO Randall Leaman said Paramount is committed to maintaining Cypress's high service standards while providing innovative solutions for IADs.
APPOINTMENTSTint Financial Services appointed Jodi Cartwright as chief commercial officer. Cartwright's extensive professional background, including her role as Distribution Director at Hiscox, will foster Tint's mission to simplify global trade for SMEs, the company stated, adding that Cartwright will help the company empower SMEs to pursue growth opportunities with ease. Tint CEO Steve Rose also expressed confidence in Cartwright's ability to drive Tint's growth and success. Cartwright pointed out Tint's commitment to innovation, specifically its plans to expand insurance offerings and leverage AI, IoT, and blockchain technologies.
The National ATM Council, Inc. heralded the recent election and appointment of its board of directors and board officers for the 2024 to 2027 term. Following are the ATM industry leaders who are contributing their skills, time and resources to NAC: chair: Patrick Conner (president, ATMPartMart.com); vice-chair: Ed Cramer (president, Cash on the Spot LLC/Pro-Solv Solutions LLC); secretary: Mike Powell (founder, First Regents Bancservices); treasurer: Barbara Montopoli (president, Eastern ATM); chair ex-officio: George Sarantopoulos (CEO, Access One Solutions); Bryan Bauer (GM ISO Processing, Kahuna ATM Solutions/NCR Atleos); Jim Cabe (partner, Turnkey ATM Solutions); Greg Chiasson (director, ATM's of the South/ATM Bankcard Services); Mark Cumming (manager, ATM Merchant Services); Cooper Frandsen (EVP, NextATM); Maya Fuentes (SVP M&A business development, Paramount Management Group); Scot Gardner (president, 901 Financial Services); Brian Haynes (SVP market partner, PAI/Brinks); Joseph Lee (president, Technovation Data; Yonas Marcos (founder and CEO, Star Financial Services); Curt Selman (president, Selman Telecommunications Investment Group); and Philip Webb (president, PDQ Merchant Enterprises).
Commerce enablement platform Nayax Ltd. selected Aaron Greenberg as its chief strategy officer to oversee corporate development, business expansion and investor relations. With a background in Wall Street across investing, banking and M&A, the company noted, Greenberg brings extensive expertise to his new responsibilities. As an adviser to Nayax, he facilitated strategic initiatives, including the acquisition of Retail Pro International. His prior tenure as an adviser for Tiberius Capital Markets and experience at Lucerne Capital Management and Wells Fargo Bank strengthened Nayax's leadership, enhancing its global market position, the company added.
NMI, a global provider of embedded payments, appointed Casey Jameson as chief talent officer and promoted Philip Goericke to the position of chief technology officer. Jameson brings extensive experience in cultivating talent and shaping corporate cultures from prior endeavors at StoryBuilt, Stack Sports and DrillingInfo. Phillip Goericke brings to his new position over 15 years of engineering expertise and a focus on aligning technology with strategic goals. Goericke previously served as NMI’s senior vice president of engineering. Both executives will play pivotal roles in NMI’s growth strategy, strengthening NMI’s executive team and solidifying its focus on strategic talent management, technological innovation and industry leadership, NMI stated.
As the new senior vice president of operations and national sales executive at Sound Payments, Cesar Rivas brings to this role a wealth of experience from his tenure within the company, notably in sales for Sound POS, the company stated. With over five years at Sound Payments and a background encompassing technology, sales and management, Rivas will now oversee operational and sales functions, including equipment deployment, customer support and CRM functionality. His decade-long stint at PNC Bank and prior experience at Compaq and Hewlett Packard further fortify his capabilities in leadership and technology management, positioning him to drive growth and streamline operations effectively, Sound Payments added. 
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