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IndustryUpdate

online, rather than shopping with foreign marketplaces. seamlessly reconcile gift card funds and loyalty points,
Nexi's latest ecommerce report reveals a total indicative they noted.
travel spend of over $191 billion in 2022, including $57
billion on hotels, almost $49 billion on flights and over Mozrt, Visa B2B Connect
$36 billion on charter and package trips. team up on cross-border B2B

The travel sector accounted for 32 percent of overall Fintech company Mozrt formed a partnership with Visa
ecommerce spending among the countries surveyed to implement Visa B2B Connect, Visa's multilateral B2B
(Austria, Denmark, Finland, Germany, Italy, Norway, cross-border payments network designed to facilitate
Sweden, Switzerland), with travelers in Italy and transactions from an originating financial institution
Germany accounting for 70 percent of the total spend. (FI) directly to the beneficiary FI. This collaboration
However, Austria and Finland saw the largest year- advances the financial technology landscape by con-
on-year increases, with consumers indicating spending necting Visa's advanced capabilities with FIs, unlocking
levels over 110 percent higher than the previous year. new possibilities for seamless transactions and enhanced
customer experiences, Mozrt stated.
Paysafe finds need for education
to propel AI payments For FIs integrated to Visa B2B Connect, Mozrt acts as
a technology partner, enabling them to leverage Visa's
With artificial intelligence (AI) being one of the most cutting-edge technology and services, Mozrt added, not-
talked about technologies of 2023, consumers are gradu- ing that as a bridge between Visa and FIs in the Mozrt
ally growing their understanding of its role in the network, Mozrt facilitates intelligent routing and sim-
payments process. Research among more than 14,000 plifies cross-border B2B payments for businesses and
consumers commissioned by global payments platform corporations.
Paysafe highlights the potential for the technology in
payments if the current lack of consumer awareness and Shopify adds Volt's gateway for open banking
comfort are addressed. At present, Paysafe noted,
just 14 percent of consumers globally say they are
using AI-driven payments technology, with the
remaining 86 percent expressing reservations about Snapshot of Upcoming Events
the use of AI.

While 10 percent expressed willingness to use
AI-driven payments in the next two years, if they
became more established, 17 percent are not com-
fortable using AI-driven payments technology at
all, researched stated, adding that 24 percent of
respondents cite lack of knowledge around safe-
guards in place to reassure them that data isn't
being misused. August 15- 16, 2023

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Factor4, Takeout7 integrate gift, loyalty solu-
tions

Factor4 LLC, a provider of gift card and loyalty
solutions, integrated its gift card and loyalty pro-
gram with TakeOut7, an all-in-one digital platform
that provides online ordering, delivery and market-
ing for restaurants.
This integration enables TakeOut7 to expand
omnichannel solutions for its restaurant partners
especially small to midsize franchise groups, the October 31 - November 2, 2023
partners stated, adding that it allows all restaurants
to seamlessly process gift card and loyalty transac- Omni Resorts, La Costa, Carlsbad
tions in-store, online and via mobile devices direct- https://westernstatesacquirers.org/attend/
ly on the TakeOut7 platform. In addition, Factor4's
pooling services allow multi-location restaurants to

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